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.
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) (%) (%)
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 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
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