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needed to bring the company up to its authorized earnings level.
He said that in January, 1982, the SCC authorized Centel a rate of return on equity in the range of 14.5 to 15.5 percent. And he noted that during the 12 months ended June 30, 1983, Centel earned only a 13.46 percent return on equity.
The FOR procedure, which is used by the SCC annually to assess the financial conditions of the utilities it regulates, allows Centel to file for rate relief to attain its authorized earnings level as long as the increase does not exceed the change in the Consumer Price Index (CPI) during the test period.
Central Telephone Company of Virginia, a part of the 10-state Centel System, serves about 165,000 customers.
80.7%