Sound bites from state and federal regulators.
Overseas Investment. Michigan certifies plan by Consumers Electric and Gas Co. to bid on the outstanding equity of three electric distribution companies being privatized in Buenos Aires, Argentina. Case No. U-11331, April 14, 1997 (Mi.P.S.C.).
Appliance Repair Rates. New Jersey OKs rates for Public Service Electric and Gas Co. for central air-conditioning repair and maintenance services, but warns company not to change rates without board approval and directs it to notify customers that the repair services are available from competitors. Docket No. EC96070517, April 14, 1997 (N.J.B.P.U.).
Management Audit. Vermont regulators say Central Vermont Public Service Corp. suffers from operational deficiencies that warrant independent review, directs utility to send copy of findings to each member of company's board of directors. Docket No. 5863, April 16, 1997 (Vt.P.S.B.).
Asset Writeoffs. State allows Alabama Power Co. to improve its "competitive position in the future" by reducing balance sheet assets with future reductions in retail rates. The utility will reduce items such as production plant in service, cost associated with redemption and refinancing of securities and other deferred assets, by $5 for every $1 of rate reduction. Informal Docket U-3741, April 21, 1997 (Ala.P.S.C.).