WV PSC Sets Hearing Date on FirstEnergy Settlement

This is from yesterday’s WV PSC order:

IT IS THEREFORE ORDERED that this matter is set for hearing to begin on Friday, September 13, 2013 at 9:30 a.m., in the Howard M. Cunningham Hearing Room, Public Service Commission, 201 Brooks Street, Charleston, West Virginia.

IT IS FURTHER ORDERED that the parties coordinate and file on or before 4:00 p.m., September 11, 2013, an order of witnesses who will appear to testify regarding the Joint Stipulation.

In this order, the PSC also made it clear to the parties to the settlement that the Commission will be questioning them about the terms of the settlement.

The Commission stated that it would require all parties to this case appear at a hearing with a witness to state whether, and why, the Joint Stipulation is, or is not, in the public interest. Further, the witnesses should be prepared to answer questions from the Commission and the parties regarding the terms and conditions of the Joint Stipulation, and in particular, regarding:

A. Section 11 .(a.), Employment Commitment;
B. Section 1 1 .(f.), Net Payment to AE Supply at Closing;
C. Section 1 1 .(g.)( l), Rate Base Amount for Surcharge;
D. Section 1 1 .(g.)(2), Future Regulatory Treatment of Rate Base Amount;
E. Section 1 1 .(i.), Adjustment to ENEC Rates;
F. Section 1 1 .(l.), Accounting for the Transaction;
G. Source of and types of Capital for the transaction; and
H. The effect of the total transaction and all related accounting entries on the capital structure of Mon Power.

Note that the Commissioners seem to have questions about the manipulation of the numbers in the settlement proposal.  Good for them.

If you are in the Charleston area on Sept. 13, you might want to drop in on this hearing.  It promises to be very educational.

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