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03/06/53 Pennsylvania Water & Power v. Federal Power Commission

March 6, 1953

PENNSYLVANIA WATER & POWER CO. ET AL

v.

FEDERAL POWER COMMISSION ET AL. PENNSYLVANIA PUBLIC UTILITY COMMISSION

v.

FEDERAL POWER COMMISSION ET AL.



Before WILBUR K. MILLER, BAZELON and FAHY, Circuit Judges, in Chambers.

UNITED STATES COURT OF APPEALS DISTRICT OF COLUMBIA CIRCUIT. 1953.CDC.13

March 6, 1953.

DECISION OF THE COURT DELIVERED BY THE HONORABLE JUDGE FAHY

ORDER

Upon consideration of the Plan of Distribution of Segregated Funds Involving Three Pennsylvania Utilities Customers, jointly submitted to the court, pursuant to its order of October 30, 1952, by the Pennsylvania Public Utility Commission and the Federal Power Commission, and consented to by the intervenors Philadelphia Electric Company, Metropolitan Edison Company and Pennsylvania Power & Light Company, but slightly modified by the court and as so modified also consented to as evidenced by the endorsements hereon, it is by the court

ORDERED:

1. That funds impounded by petitioner, Pennsylvania Water & Power Company, with respect to the intervenors Pennsylvania Power & Light Company, Metropolitan Edison Company and Philadelphia Electric Company, together with actual earnings thereon, be promptly distributed and paid by petitioner to said intervenors, said funds being in the following amounts as of January 8, 1953:

Amount Segregated Earnings from

(Exclusive of Earnings Investment of Segregated Total

segregated Funds)

Pennsylvania

Power

& Light Company $684,614.61 $23,786.43 $708,401.04

Metropolitan

Edison Company 340,565.71 9,144.42 349,710.13

Philadelphia

Electric Company 808,422.76 28,199.17 836,621.93

Provided, that there shall be added to the above amounts any additional amounts segregated and any additional earnings to the date of this order.

2. That such distribution and payments shall be made upon the following terms and conditions:

(a) Each such intervenor shall set up on its books of account a special reserve in an amount equal to the aggregate of the amount or amounts received by it under the order or orders of the court, less any state and federal income taxes paid thereon, and shall maintain such reserve for twenty years commencing December 31, 1952, and thereafter until extinguished by four equal annual credits therefrom to earned surplus commencing December 31, 1973, and continuing on each December 31 thereafter ending with December 31, 1976.

(b) Each intervenor shall deduct the amount in such special reserve from the base upon which it would otherwise seek or claim a right to earn a fair return for the purpose of all proposals or claims of rates or modifications or changes in rates and each Commission shall deduct the amount in such special reserve from the base upon which a fair return would otherwise be allowable for all rate regulatory purposes with respect to each such intervenor.

3. That petitioner shall promptly file with the clerk of this court and serve on all parties herein a statement in writing of the dates and amounts of payments and the names of the parties ...


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