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Texas jury awards municipal utility $30 millionJuly 23, 2014
NEW BRAUNFELS, Texas (AP) — A Central Texas jury has delivered a nearly $30 million verdict against the Lower Colorado River Authority.
A Comal County jury on Tuesday returned the verdict in favor of New Braunfels Utilities. The Austin-based river authority manages water resources and provides electricity.
New Braunfels Utilities says the LCRA violated their 1999 wholesale power contract by overcharging for electricity. The LCRA says New Braunfels Utilities and other utilities have unlawfully broken their contracts.
The New Braunfels Utilities CEO tells the Austin American-Statesman that the money will go toward reducing electricity costs and expanding energy efficiency programs.
A LCRA spokesman says the authority is disappointed in the local jury's decision. He says it will consider an appeal.