Cap Rock Energy (AMEX:RKE)
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Cap Rock Energy Requests Hearing Before State Office of
Administrative Hearing
MIDLAND, Texas, Nov. 12 /PRNewswire-FirstCall/ -- Officials with Cap Rock
Energy (AMEX:RKE) today requested a hearing before the State Office of
Administrative Hearing (SOAH) to review two Notices of Violation (NOV) the
Company received in late September from the Public Utility Commission of Texas
(PUCT).
"On behalf of our customers and shareholders, Cap Rock Energy has worked
diligently and in good faith with the PUCT staff to resolve these issues but
have been unable to do so," said Will West, Vice-President/Chief Strategic
Officer. "We recognize that Cap Rock Energy -- in transitioning between
regulatory authorities -- presents new challenges for state regulators.
Therefore, we believe a hearing before an administrative law judge is the
appropriate venue for this matter."
The appealed notices cite Cap Rock Energy for charging late fees to residential
customers who did not pay their bills on time, and for charging a regulatory
surcharge to customers to recover costs incurred in a prior PUCT proceeding.
Both actions were taken in accordance with Cap Rock's tariff that had been
adopted by its Board. Once Cap Rock came under the regulatory authority of the
PUCT on September 1, 2003, it filed those tariffs with the PUCT.
After receiving the PUCT Staff's recommendation concerning the tariffs in
February 2004, we proposed amendments to the tariffs to make all of the changes
suggested by the PUCT staff and those amendments have been filed and awaiting
PUCT approval since March," said Ronnie Lyon, VP and General Counsel of Cap
Rock. "Until the amended tariffs are approved, Cap Rock Energy has continued
to operate under its existing, legally adopted and approved tariff."
Added West, "Cap Rock Energy is following the letter and spirit of the law in
awaiting PUCT approval of our amended tariff to implement the changes. We look
forward to presenting our case before an administrative law judge and receiving
a fair and equitable disposition of this issue on behalf of our customers,
employees and shareholders."
Cap Rock Energy provides electric distribution services to over 35,000 meters
in 28 counties in Texas. Its corporate office is located in Midland, Texas,
with service divisions in Stanton, Colorado City, Brady and Celeste, Texas.
The Company also provides management services to the Farmersville Municipal
Electric System. The Company's predecessor, Cap Rock Electric Cooperative,
Inc., was incorporated as an electric cooperative in the State of Texas in
1939.
All statements, other than statements of historical fact included in this news
release are forward looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Any such forward looking statements
involve risks and uncertainties and actual results, performance or achievements
of Cap Rock Energy may be different from those expressed or implied in the
forward looking statements.
DATASOURCE: Cap Rock Energy Corporation
CONTACT: Mona Taylor, +1-512-633-4708, or Wayne Fleenor,
+1-512-565-7527, both of Cap Rock Energy Corporation