PUBLIC UTILITY COM'N v. HOUSTON LIGHTING

No. C-5705.

748 S.W.2d 439 (1987)

PUBLIC UTILITY COMMISSION OF TEXAS v. HOUSTON LIGHTING & POWER COMPANY, et al.

Supreme Court of Texas.

Rehearing Denied May 4, 1988.


Attorney(s) appearing for the Case

Jim Mattox, Atty. Gen., Carole J. Vogel, Fernando Rodriguez, Karen Pettigrew, Office of the Atty. Gen., Austin, for petitioner.

Hugh Rice Kelly, G. Schalles, III & H. Leven, Houston Lighting & Power Co., Houston, Robert J. Hearon, Jr., Graves, Dougherty, Hearon & Moody, Austin, Finis Cowan, Jr., Baker & Botts, Jefferson D. Giller, Lee C. Clyburn, Fulbright & Jaworski, Austin, for respondents.


OPINION

GONZALEZ, Justice.

This cause is an administrative appeal addressing the scope of authority of the Public Utility Commission (PUC) to allocate costs, profits and tax benefits between ratepayers and shareholders. Houston Lighting & Power Co. (HL & P) applied to the PUC for a rate increase. After a hearing, the final order of the PUC provided that a 16.85% return on equity was reasonable. However...

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