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The clipping this text was read from

tor electric utilities, vepco also filed with its Application proposed changes to its rates, terms and conditions applicable to Parallel, Relay and Breakdown customers with a requested effective date as determined in the final order in. this proceeding.

On April 25, 1984, the Commission staff filed a preliminary evaluation of Vepco's application. The Staff advised the Commission that the accounting adjustments in Vepco's application appeared to be in comoliance with the Commission's FOR guidelines but that the requested increase in annual revenues should be reduced by $740,000 to $24,556,000 to account for the reduction in the Special Revenue Tax rate for the tax year 1984. The Staff noted that information on the tax rate reduction was unavailable in time to be included in Vepco's application. The Staff also noted that the amount of the proposed increase will be reduced further by an Internal Revenue Service (hereinafter "IRS") ruling which Vepco received on April 11, 1984, concerning the amortization of In

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