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• <br />.~rston lighting & Power Company <br />Honorable Mayor and Board of Commissioners <br />Page 2 <br />our Company's ability to maintain this favorable credit rating <br />has been of great benefit to our customers since we have been <br />able to finance our expansion programs on terms more favorable <br />than most other utilities. This has enabled us to keep pace with <br />the area's growing electrical needs and at the same time maintain <br />customer charges that are still among the lowest of all of the <br />investor-owned electric utilities in the nation. <br />We estimate that between 609' and 659 of the $2.4 billion <br />required to meet our 1979-81 expansion program will have to be <br />financed through the public sale of Company securities. With the <br />large expansion program facing us, we must be able to offer <br />securities of a quality commensurate with other available <br />investment opportunities in order to compete effectively for the <br />investors' dollars on the most favorable terms available. To do <br />this we must have a record of earnings that lNill make our <br />securities attractive in today's highly competitive money market. <br />Enclosed is a Statement of Intent to change rates for <br />electric service along tvith the proposed revised rate scheriules <br />for the Company's Tariff and the rate filing package with <br />• supporting testimony which has been filed today with the Public <br />Utility Commission of Texas. We have requesters that the new <br />rates become effective on August 7, 1979 and apply to all service <br />taken by each customer on or after that date. A simultaneous <br />filing of Statements of Intent is being made with each <br />municipality exercising original ,jurisdiction over the Company. <br />Tt!e rate increases sought in each municipality and in the rural <br />areas under the original jurisdiction of the Public Utility <br />Commission are uniform for each class of customer throughout the <br />Company's service area. <br />We regret that a rate increase is necessary. We strongly <br />feel, however, that the availability of electric service that is <br />so essential for the customers and the communities we serve <br />should not be placed in jeopardy. It is a privilege to serve <br />your City and it will continue to be oiar ob,iective to keep our <br />rates at the lowest possible level consistent with providing <br />dependable service. . <br />Yours very~trouly, <br />L .:~~---_... <br />C District Manager <br />• Enclosures <br />'~,~r <~ <br />~~ ;~~ <br />