A Central Texas jury has delivered a nearly $30 million verdict against the Lower Colorado River Authority.
A Comal County jury 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.
Topics Texas
Was this article valuable?
Here are more articles you may enjoy.
Need Wind Mitigation? New Florida Insurer Wants to Help With That 
Big I: Independent Agencies’ Market Share Up Slightly in 2025 
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
How Insurers Know When It’s Time to Scale AI 
