On Wednesday, Pedernales Electric officials welcomed a study of electric cooperatives by the Senate Committee on Business and Commerce. This study is one in a lengthy list of charges that Lt. Gov. David Dewhurst provided to Texas Senate committees and subcommittees in preparation for the 81st Legislative Session. Hearings are scheduled to begin in the next two months.
The focus on electric cooperatives is part of a broader Senate review of the effects of 1999’s deregulation of the state’s electric market. The interim committee will be chaired by State Sen. Troy Fraser of Horseshoe Bay.
“We welcome the opportunity to share our story about our rates, reliability, business practices and information disclosure,” said PEC Board President E.B. Price. “We are also looking forward to reviewing the bold steps we have made in recent months in the governance of our cooperative, and comparing our services, rates and reliability to those of other utilities.”
Pedernales Electric is the highest-ranked utility in the nation for customer service, according to independent surveys conducted by a nationally recognized survey firm. PEC’s AA- bond rating places it in the top tier of all utilities in the country, reflecting the cooperative’s strong standing in the eyes of the financial community.
“We believe the discussion about Pedernales Electric, along with other utilities in the state, will afford us the opportunity to present a strong case for the value PEC provides its more than 221,000 members,” Price said. “We believe the business information on our web site compares favorably with that of other utilities industry wide.”
Pedernales Electric’s “PEC Corporate Profile” section on www.pec.coop provides comprehensive information about PEC Board members, including their length of service and next election dates. The section also provides access to Pedernales Electric’s Bylaws, annual report with audited financial statements, and Internal Revenue Service filings.