Noting controversy surrounding multi-year incentive agreements in utility rate cases, the New York Public Service Commission (PSC) has approved guidelines for filing multiyear rate proposals and...
Ohio Repeats Warning to Centerior
The Ohio Public Utilities Commission has reaffirmed its "recommendation" (issued April 11 in a rate case order) that Toledo Edison Co. and Cleveland Electric Illuminating Co. (subsidiaries of Centerior Energy Corp.) should write down $1.25 billion in assets over the next five years to avoid the danger of even greater commission-mandated cost disallowances.
The PUC rejected arguments that it should have ordered the write-down directly. The PUC warned: "[W]e expect the company to act upon our complete recommendation," It added that Centerior did not dispute the recommendation in its application for rehearing. Case Nos. 95-299-EL-AIR et al., June 12, 1996 (Ohio P.U.C.1996).
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