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SUMMARY OF TESTIMONY <br /> <br />Witness: Bill D. Griffin <br /> <br />Background: Received a Bachelor of Business Administration in 1980. <br /> Became a Certified Public Accountant in 1986. Employed by <br /> Texas Electric Service Company in 1980. Joined the Corporate <br /> Tax Department in 1988. Currently serve as Income Tax <br /> Director. <br /> <br />Purpose of Testimony: <br /> <br /> (1) The purpose of my testimony is to present the level of <br /> federal income tax expense to be included in the Company's <br /> cost of service and (2) Sponsor Schedules E-7, E-7.1, E-7.2, <br /> and G-7 of the Rate Filing Package. <br /> <br />Key Points/Issues: <br /> <br /> The federal income tax expense, investment tax credit and <br /> accumulated deferred federal income taxes included in this <br /> case was determined pursuant to applicable federal income tax <br /> laws and regulations, state law and regulations and generally <br /> accepted accounting principles. <br /> <br />Summary/Recommendation: <br /> <br /> The federal income tax expense, investment tax credit and <br /> accumulated deferred income taxes incurred by TXU Gas <br /> represent a normal level of expense, are just and reasonable and <br /> should be included in the company's cost of service. <br /> <br /> Griffin - Summary of Testimony Page I of 1 <br /> <br /> <br />