The company said the PUCT imposed a cap of $1.522 billion on recovery of Turk Plant's jurisdictional capital costs. On August 11, 2021, the Texas Third Court of Appeals found that AFUDC is included in this cap and remanded the case to the PUCT.

1. 01

   The company said the PUCT imposed a cap of $1.522 billion on recovery of Turk Plant's jurisdictional capital costs. On August 11, 2021, the Texas Third Court of Appeals found that AFUDC is included in this cap and remanded the case to the PUCT.

2. 02

   The company said that on December 14, 2023, after the PUCT approved a preliminary order, it believes it is probable the PUCT will disallow capitalized AFUDC in excess of the Texas Capital Cost Cap for SWEPCo. It recorded a pretax, non-cash disallowance of $86 million in Q4 2023.

3. 03

   The company said on May 2, 2024 that the PUCT denied SWEPCo's appeal. SWEPCo said it expects to record a one-time revenue refund provision of $160 million, including interest, in Q2 2024 related to revenue collected from February 2013 through December 31, 2023.

4. 04

   The company said $160 million, including interest, represents management's best estimate within a range of probable refunds of $104 million to $197 million. A hearing is scheduled for May 2024, and the company said a PUCT decision is likely in Q3 2024.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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