Arkansas Approves Fuel Clause Treatment for Test Energy

According to the Arkansas Public Service Commission (PSC), the Arkansas Electric Cooperative Corp treated ratepayers fairly when it used its fuel adjustment clause to recover the value of test energy produced at one of its hydroelectric facilities. The PSC rejected a claim by its staff that the recovery was misplaced because no fuel costs were actually incurred for generating the test energy. The PSC said the co-op deserved a credit for the value of the energy because the value of the hydroelectric plant would be reduced by the same amount under the approved accounting treatment.
Byline: 

Phillip S. Cross

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New Jersey Approves Gas to Electric Pricing

The New Jersey Board of Public Utilities (BPU) has approved a change in the method used by Public Service Electric and Gas Co. to determine the price of gas paid by its electric division to its gas division for volumes needed to generate electricity. The new method adds two types of service beyond the current all-interruptible classification. The new "dedicated" volumes will only be subject to interruption at temperatures of 20 degrees or below. In addition, demand charges will be estimated based on monthly volumes rather than fixed historical annual volumes.
Byline: 
Phillip S. Cross
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Nuclear Storage at Issue iin Minnesota Decommissioning Case

The Minnesota Public Utilities Commission (PUC) has reaffirmed an earlier decision

allotting another

14.8 years of service to two Prairie Island nuclear units owned by Northern States Power Co. The PUC turned back claims that it should shorten the remaining life estimate because the utility might be unable to secure offsite storage for spent fuel from the plant.

Byline: 
Phillip S. Cross
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North Dakota Approves Certificates in Local Exchange Site

The North Dakota Public Service Commission (PSC) has approved new certificates for local telephone service for 68 exchanges sold by U S WEST Communications, Inc. to a group of independent telephone companies in the state. The PSC had prepared to perform a full examination of the $137.5-million sale, when the state legislature passed a new law eliminating its jurisdiction over the disposition of tangible assets by U S WEST.
Byline: 
Phillip S. Cross
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Va Asserts Authority in Mini Case

The Virginia Corporation Commission has rejected claims that it has no jurisdiction over disputes involving attempts to municipalize electric service. The case involves a dispute between Virginia Electric and Power Co. and the City of Falls Church, VA.

Byline: 
Phillip S. Cross
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Maine Approves LEC Price-cap Plan

The Maine Public Utilities Commission (PUC) has approved a regulatory reform plan for New England Telephone and Telegraph Co., a telephone local exchange carrier (LEC). The plan includes a price cap program for "core" services (em that is, nondiscretionary services such as basic exchange and toll services. The price-cap structure and pricing rules will not apply to the LEC's noncore services.

Byline: 
Phillip S. Cross
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N.H. Finds Power to Open Electric Franchises

In an important case involving electric retail competition, the New Hampshire Public Utilities Commission (PUC) has made a series of legal rulings favoring a proposal by Freedom Electric Power Co. to purchase and resell power to end users currently served by Public Service Co. of New Hampshire (PSNH). The PUC ruled that franchises granted to electric utilities in the state are not exclusive and that the proposed activities would make the energy company a public utility if approved and implemented.

Byline: 
Phillip S. Cross
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Financial News

Annual Annual EPS

Close Close Percent 52-Wk 52-Wk Div Div Book P/E Last

Company Region 03/31/95 06/30/95 Change High Low Rate Yield Value Ratio 12 Mos.Electric Utilities

AEP Company Inc. Midwest 31.75 35.13 10.63 35.75 29.00 2.40 6.83 22.68 13 2.68

Unicom Corp. Midwest 23.75 26.63 12.11 27.75 20.63 1.60 6.01 24.39 14 1.90

Union Electric Co.

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Columbia Gas Bankruptcy Moves Forward

The Federal Energy Regulatory Commission (FERC) has approved an uncontested settlement for bankrupt Columbia Gas Transmission Corp. (CGT), resolving over 100 FERC proceedings and over 40 court appeals (Docket Nos. GP94-2-003 et al.). The settlement addresses CGT's recovery of costs associated with its former merchant function. It also settles customer claims in CGT's bankruptcy proceeding, subject to bankruptcy court approval.
Byline: 
Lori A. Burkhart
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Nuke Decommissioning Funds Get Investment Flexibility

The Federal Energy Regulatory Commission (FERC) has adopted a final rule for nuclear plant decommissioning trust funds that will allow greater investment flexibility and enable funds to take advantage of changing market conditions (Docket No. RM94-14-000). The rule aims to improve the returns earned on funds contributed through wholesale electric rates, thereby decreasing the amount collected from ratepayers.

Byline: 
Lori A. Burkhart
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