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Company contends that it needs prompt temporary rate relief because, among other things, (1) its earnings are substantially less than were authorized by the Commission in the Company’s last rate case in 1975, and (2) Company is in immediate need of additional revenues in order to maintain its financial health and capacity te render adequate public service to its Virginia customers.
Company requests that the proposed surcharge go into effect on March I, 1977, pursuant to S56-240 of the Code of Virginia, without suspension. However, the Commission, has by Order of February 17,1977, suspended the effective date until lfay 1, 1977, pending an investigation by its Staff. A hearing will be held, commencii« at 10:90 A.M., March 28, 1977, in the Commission’s Courtroom, Blanton Building, Richmond, Virginia. The purpose of the hearing will he te receive evidence from the Company and the' Commission’s Staff regarding the Company's needfer a temporary rate increase prior to s complete investigation and public hearing.
THE POTOMAC EDISON COMPANY *-17-k
51.7%