Statement From Will West Concerning Actions at the Public Utility Commission on Thursday, June 16, 2005
21 Juni 2005 - 1:13AM
PR Newswire (US)
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
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