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processes with no standard rates established that apply to all companies (Henderson noted, however, that the SCC here was breaking new ground by getting involved in comparing fuel production costs of one utility with another. He added that any SCC action connected with these comparisons could be overturned by the U. S. Supreme Court.)
The third Supreme Court decision that applies to utilities requires that the SCC allow them a profit “equivalent to the profit being made by non-utility and non - regu1 ated businesses,” said Henderson. He noted that highly profitable or unusually speculative operations were excluded from the comparison. The Supreme Court also held, he said, that the authorized profit must be enough to allow the utility a good credit rating and sufficient to encourage investment—not only for the present but for the future.
The final ,Supreme Court decision relating to utilities stipulates that authorized rates must be high enough to pay all legitimate costs of providing service plus cover the costs of debts and interest on profferred stock.
According to Henderson, the SCC must perform a delicate balancing act between the needs of utility companies and consumer needs. "We have to determine what is a fair price and what is a fair profit," he said. As soon as a utility files for a rate increase and the SCC sets a hearing, the Commission carves out a 12 month period from the utility's financial records for
Wrecks
Sylvia Lea Sisk of Sperryville was cited for failing to yield the right of way in a collision Thursday west of Sperryville. She was driving a 1966 Chevrolet when she entered the highway from Baldwin's Shell Station on Route 211 and was struck by Allen Foltz of Luray in a 1969 Ford. Damage to each vehicle was estimated at $450 by Trooper R. A. Baines.
Dutton Yowell of Etlan driving a 1970 International truck struck and killed a cow owned by Roland Welch of Flint Hill. The incident occurred Friday on Route 522 near Huntly.
Two vehicles were involved in a slight collision at Ben Venue Friday. According to Baines, Rose Marie Estes of Fairfax and Howard Wilson Jeffries of Amissville were operators of the vehicles. Minor damage was done to the 1975 Chevrolet belonging to Ms. Estes and to Jeffries’ 1972 Mercury. Charges are pending, said Baines.
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