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Public Utilities Reports
PUR Guide 2012 Fully Updated Version
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Rate of Return on Common Equity: Annual Survey of Electric Rate Case
Our 13th annual electric rate-case survey covers electric rate orders issued between
April 1, 1994, and March 31, 1995.
The survey tabulates rates of return on common equity (ROE) approved by state public utility commissions (PUCs) in major electric rate orders, but also includes some cases in which rate of return was not directly at issue, or where a rate adjustment resulted from a settlement agreement.
The figures were obtained from a survey of over 225 rate analysts at PUCs and the major investor-owned electric utilities. We asked respondents to 1) identify only cases in which cost of equity was at issue; 2) list figures only for electric service, in the case of a combined utility; 3) indicate whether a rate-of-return award was subject to an adjustment for management efficiency; and 4) list final figures for rate increases requested and granted. Respondents were asked to provide figures to two decimal places, if possible.
The footnotes explain variations from the basic survey criteria and provide additional detail. Appellate court orders that modify PUC decisions are not listed.
ROE
Increase Increase Previously New
(Decrease) (Decrease) Authorized Authorized
Case, Docket, Application Order Test Year Requested Granted Rate Rate
Jurisdiction/Company or Decision No. Date Date End Date ($ Million) ($ Million) (%) (%)
ALASKA
Municipal Light & Power Dept. U-94-90 6/30/94 12/2/94 12/31/93 2.7 2.1 13.00 12.00
ARIZONA
Arizona Public Service Co. U-1345-94-120 4/20/941 6/1/94 9/30/93 (38.3) (38.3) NA* NA*
153 PUR4th 396
CALIFORNIA
Pacific Gas & Electric Co. D.94-11-0762 5/9/94 11/22/94 12/31/95 131 104 11.00 12.10
158 PUR4th 217
San Diego Gas & Electric Co. D.94-11-0762 5/9/94 11/22/94 12/31/95 67.7 57.43 10.85 12.05
158 PUR4th 217
Sierra Pacific Power Co. D.94-11-0762 5/9/94 11/22/94 12/31/95 NA NA 11.10 11.30
158 PUR4th 217
Southern California Edison Co. D.94-11-0762 5/9/94 11/22/94 12/31/95 189.9 120.67 11.00 12.10
158 PUR4th 217
DISTRICT OF COLUMBIA
Potomac Electric Power Co. FC 929 4/4/944 5/4/94 (em (em 1.254 (em (em 4
HAWAII
Hawaiian Electric Co., Inc. 7700 7/26/93 12/28/94 12/31/94 53.8 50.5 13.00 12.15
Hawaii Electric Light Co., Inc. 7764 11/30/93 2/10/95 12/31/94 15.8 15.5 13.0 12.6
159 PUR4th 290
Maui Electric Co., Ltd. 7000 11/13/91 8/5/94 12/31/935 10.63 8.05 15.00 12.75
153 PUR4th 437
IDAHO
Idaho Power Co. IPC-E-94-5 6/30/94 1/31/95 12/31/93 37.1 17.2 12.25 11.006
ILLINOIS
Commonwealth Edison Co. 94-0065 2/10/94 1/9/95 12/31/94 461.7 303.2 13.00 12.28
158 PUR4th 458
INDIANA
PSI Energy, Inc. 39584 11/6/92 2/17/95 12/31/92 102.7 42.4 14.25 11.9
IOWA
Interstate Power Co. RPU-93-6 8/4/93 6/3/94 12/31/93 11.45 7.388 11.90 11.00
152 PUR4th 377
KANSAS
Empire District Electric Co. 190,360-U 3/17/94 9/7/94 12/31/93 0.72 0.51 12.25 11.60
LOUISIANA
Gulf States Utilities Co. U-19904 5/16/947 12/29/94 12/31/93 46.3587 (12.657) NA 10.95
159 PUR4th 54
MARYLAND
Potomac Edison Co. 8652 4/15/94 9/20/94 12/31/93 30.9 19.6 11.90 NA*
MICHIGAN
Consumers Power Co. U-10335 5/10/93 5/10/94 12/31/94 165.6 57.6 13.50 11.75
151 PUR4th 374
Upper Peninsula Power Co. U-10802 3/3/95 3/10/95 12/31/94 (2.9) (2.9) 11.75 11.75
MINNESOTA
Minnesota Power E-015/GR-94-001 1/3/94 11/22/948 12/31/94 34.3 19.0 11.56 11.6
MISSOURI
Empire District Electric Co. ER-94-174 12/1/93 8/2/94 12/31/93 7.97 7.35 NA* NA*
St. Joseph
