Cap Rock Energy (AMEX:RKE)
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Statement From Will West Concerning Actions at the Public Utility
Commission on Thursday, June 16, 2005
MIDLAND, Texas, June 20 /PRNewswire-FirstCall/ -- The following is a statement
from Will West, President, Cap Rock Energy Corporation (AMEX:RKE), regarding
actions taken Thursday, June 16 by the Commissioners of the Texas Public
Utility Commission. The statement is as follows:
"We appreciate the Commissioners for their integrity, their work ethic and for
their review on Thursday, of Cap Rock Energy's request for a modest rate
increase.
"In their comments on Thursday, the Commissioners indicated they will reject a
proposal from the Administrative Law Judge for a significant rate reduction and
instead allow a one to two percent rate reduction for the company. While we
still believe a modest rate increase is warranted and necessary, we recognize
this is an improvement upon the ALJ recommendation."
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. Cap Rock Energy Corporation is the first electric cooperative to convert
to a publicly held corporation and the first electric utility to become a
public company in over 60 years.
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: Ronnie Lyon, VP-General Counsel of Cap Rock Energy,
+1-903-813-0377, or