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 consultant for TCAP, a coalition of political subdivisions in Texas that purchase electricity in the deregulated market for their own governmental use. Because energy costs are typically a significant budget item to our members, TCAP is consistently looking for ways to save our members money, through cost-saving contracts, energy efficiency or demand response programs.