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The Commission wished to explore the impact on the company’s earnings as a result of lower tax rates prescribed by the Tax Reform Act of 1986 and current economic and industry changes. Subsequently, the company filed an application for a decrease in electric rates with the SCC in August.
The company’s application stated that the decrease reflects, among other things, a reduction in the utility’s revenue requirements due to the effect of federal tax law changes and recent decreases in the utility’s cost of capital.
The Commission order sets Potomac Edison’s authorized return on equity at 13.25 percent which is down from the 15.5 percent set in the company’s last general rate case.
Potomac Edison serves approximately 60,000 customers in 14 northwestern Virginia counties.
88.0%