Oncor, the electric utility serving the Dallas/Fort Worth area, has collected at least $500 million since 2008 for federal income taxes that were not owed and never paid to the federal tresaury. CenterPoint, the utility serving the Houston area, collected $150 million for federal incomes taxes between 2002 and 2004 — even though the company benefitted from a sizable tax refund during those years.
The Texas Coalition for Affordable Power recently released a Snapshot Report examining these issues. The media coverage has been extensive. You can check out some of the news reports at the links, below.
NBC Tyler KETK-TV: Legislation Removes PUC Protections
Dallas Morning News: Power Companies Get a Break in Texas House
Waxahachie Daily Light: SB 1364 Increases Unfair Tax Collections
Huffington Post: How the Texas Legislature Stuck it To You This Time
NBC Tyler: KETK-TV: Moody’s Report Contradicts Oncor Statement on Phantom Taxes
Dallas Observer: Oncor Phantom Tax Windfall May Become Permanent
NBC Tyler KETK-TV: ONCOR – They Collect from You for Tax Bill That Does Not Exist
CBS DFW Channel 11: North Texans Spend Millions on Non-Existent Federal Taxes
Dallas Morning News: Texas Legislature Weighs Change to Power Companies’ “phantom taxes”
Dallas Morning News: Oncor collecting $200M a year from customers for taxes it never paid, report alleges
Fort Worth Business Press: Potential EFH bankruptcy renews debate on utility tax
Dallas Morning News: Texas Senate approves bill allowing utilities to charge consumers for unpaid taxes
Burleson Star: Potential bankruptcy renews debate on utility tax
Dallas Business Journal: Oncor taxes go to Energy Future Holdings, not the feds
Huffington Post: How Texas Is Making It Easier for Utilities to Keep ‘Phantom Taxes’
Houston Chronicle: Texas lawmakers give utilities a tax boost
Corpus Christi Caller-Times: Forum – Phantom Electricity Tax is Real
San Antonio Express-News: Potential Bankruptcy Renews Debate on Utility Tax
Fierce Energy: Oncor, EFH targeted for collecting excessive customer funds
Vaultelectricity.com: Group Claims Oncor Unnecessarily Charged Fees to Texas Electricity Consumers
Is a policy analyst for TCAP, a coalition of cities and other political subdivisions that purchase electricity in the deregulated market for their own governmental use. Because high energy costs can impact municipal budgets and the ability to fund essential services, TCAP, as part of its mission, actively promotes affordable energy policies. High energy prices also place a burden on local businesses and home consumers.