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Notice
NOTICE TO THE PUBLIC OF A PROPOSED TEMPORARY INCREASE IN RATES BY CENTRAL TELEPHONE COMPANY OF VIRGINIA
Notice is hereby given to the public that Central Telephone Company of Virginia, on October 27, 1976, filed with the State Corporation Commission of Virginia an application requesting authority to place in effect for telephone service provided on and after November 27, 1976, a temporary surcharge, to remain in effect until such time as a complete investigation can be conducted, and a public hearing held, to determine the need for a permanent rate increase, if any. The temporary surcharge proposed by the Company, if allowed to become effective, would result in a 9.60% surcharge on existing rate schedule charges with the exception of intrastate toll, Wide Area Telephone Service, private line and coin telephone. In its implication, Company states that this temporary surcharge would produce additional gross revenues of $2,359806 on an annual basis and that such additional revenues would be separately accounted for on its books and records in order that Company could refund any amounts, together with interest, found excessive after a full investigation and public hearing to determine its need for a permanent rate increase.
Company contends that it needs prompt temporary rate relief because, among other things, it is unable to earn the rate of return authorized by the Commission in its last rate case due to (a) an overall increase in plant investment and an increased investment per telephone, which has led to greater depreciation charges and greater property taxes per revenue producing unit, (b) increases in other costs, not including capital costs, and(c) lower than expected intrastate toll revenue.
90.3%