Iowa Admin. Code r. 199-26.6 - Subsequent proceeding in rate case proceedings based upon a future test year
(1)
Time period for updates for subsequent proceeding. The utility
shall file within 90 days of the end of the verification period the
information, exhibits, and workpapers described in subrule 26.6(2).
(2)
Updated information
required. The filing required in subrule 26.6(1) shall include an
update of the cost-of-service study, revenue allocation, resulting rates, and
revenue verifications, based upon methodologies approved by the board in the
general rate proceeding, with actual costs, revenues, and sales applicable
during the verification period. The filing shall include a calculation of the
utility's return on equity based upon the updated information, exhibits, and
workpapers.
(3)
Other
parties' filing requirements. Any party to the future test year rate
proceeding, or any other party who is granted intervention in the subsequent
proceeding, may file a response to the return on equity calculation, and other
information, exhibits, and workpapers, filed by the utility with information,
exhibits, and workpapers within 30 days of the date the utility files its
information, exhibits, and workpapers.
(4)
Board order required.
The board shall issue within 30 days of the filing of any response, or, ifno
response is filed, within 60 days of the utility's filing, an order which finds
that the actual costs and revenues are reasonably consistent with the costs and
revenues approved by the board or shall set the matter for hearing to address
questions from the board. If the board determines that the actual return on
equity of the utility during the verification period falls within a standard of
reasonableness of 50 basis points above or 50 basis points below the return on
equity approved by the board, the actual costs and revenues shall be presumed
to be reasonably consistent with the costs and revenues approved by the
board.
(5)
Hearing to be
scheduled. If the board determines that the return on equity based
upon actual costs and revenues does not fall within the standard of
reasonableness in subrule 26.6(4) or the board has questions about any of the
information, exhibits, and workpapers filed by the utility, the board shall
schedule the review of the actual costs and revenues for hearing. The hearing
date of the subsequent proceeding shall be set no more than 90 days from the
date the utility files its information, exhibits, and workpapers, unless
otherwise ordered by the board. The issues to be considered at the hearing are
the review of any inconsistencies between actual costs and revenues compared to
the costs and revenues approved by the board. The utility and other parties
shall provide witnesses to respond to board questions at the hearing and
parties may ask questions of the witnesses.
(6)
Order addressing issues in
subsequent proceeding. The board shall issue a final order within 120
days of the filing of the utility's information, exhibits, and workpapers
required in subrule 26.6(2), unless otherwise ordered by the board. In the
order, the board will determine whether the actual costs and revenues are
reasonably consistent with the costs and revenues approved by the board and
whether there should be any adjustment in rates based upon the board's
determination. Any increase or reduction in rates based upon a return on equity
outside of the standard of reasonableness band shall be calculated in relation
to the band and not the return on equity approved by the board.
Notes
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