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procedure established by the SCC, shows the increase is inadequate for current periods according to the utility company.
Data submitted with the request demonstrates that even if the recent rate increase had been in effect during the entire calendar year of 1977, Potomac Edison revenues would have been $2.1 million short of producing the rate of return authorized by the SCC. Projections for 1978 show an even bigger deficiency.
Potomac Edison is currently spending at the rate of about $1.75 million a week to build new generation, transmission and other facilities to serve its 235,000 customers in Virginia, West Virginia and Maryland.
“More than half the money we need for construction now underway and that planned to meet future demand must come to us voluntarily from the savings of people who are not necessarily our customers,” general manager J. M. McCardell pointed out. "Only with adequate rates from all our customers can we continue to attract those savings, finance our construction program and continue to meet electrical demand.”
McCardell said the demand for electricity in the PE service area in Virginia has increased at a greater rate than the system demand over the last 10 years.
“Currently." he continued, “we expect the peak demand on the Potomac Edison system to increase at the rate of about 6.8 percent during the next decade.”
The interim request would increase the monthly electric bill for a residential customer without water heating using 450 kilowatthours $1.33. The monthly bill for an allelectric customer using 1600 kwh would increase $3.35.
84.8%