I OF COMMISSION ACT, SBC I THE MATTER OF PRINCETON LIGHT AND POWER COMPANY, LIMITED fo i UTILITIES 980, c. 60 APPLICATI BY 82 •. Su ivan, Cornm s ioner
TABLE OF arances (i) List of Exhi i s ( i i) I. Introduc ion 1 I . 'rest Period 3 III. C t Serv 3 IV. Other j\lla ters v. Ra s VI. Or 8 SCHEDULE I SCHEDULE I
APPEARANCES P. Ga 1 D.H. Be 1-Irving Hearing Offic r c ssi.on Staff Cou t rter Commis ion Counsel For Princeton L t Power i .c. Miche son ,J .A. Hodson R. ,J. Fletcher W.B. iotron nt r ises L {i.)
IST OF EXHIBI Exhi t No. Affidavit of Graham Gou e Publ ation of Not ce of Hear Princeton ight Limited, Tariff r 5, 1981 Copy of Commiss n Orde No. G-8 - 3 of Commission Order No. G- - 1 i)
icat on of Pr ig t da ed r 5 , 198 1 th ta iff conce ning ervice, s ear n ic n Tuesd , Februa 2 3, 9 Divi on o e Cornmis on i d of M. ne . Po we c , L i iza on to arne r elect ic ouve , Brit Col ia, n h e cat n B. • Su 1 va ,
I. INTRODUCTI s Dec ion p inceton t and Power r to s "P eton i ny", f .401¢/Kwh for increase wou n e ate se and 17% on a of c it lizat on. Or r No. G-89-8 , a Dec ranted an in er at ase of .3 icabl to cons on of lectrici ead ng ate eco us orne Dec 3 , 981. as nte e t t Princeton i esd 3 f oc on 21st Fl r, 1177 Vancouver, Briti C Prince ht Powe ornpany, Limit investor-owned ect ic d st i u service to e Vil age of Pr nee surrounding area for n exc communi ith a popul t on of approxima e is itua at unctio R r , t 00 1 t , 1 8 eina ter II f II the cant" or II e ate r ief of 14.5 2% or r cu r nt r t , "" , . Thi ropes n r tur f 11.8% on nt compr i 4 % 1, 1 81, t Comrn n or 11.285% on fter e ter bi on or a t. s ec to ref i i at on wa s t t 10:00 a. oca irne on Heari Room t Hast ngs treet, is close he ti i whi as ov ded ate f rs. P inceton i a .5, 500 peop and a S iJ kameen r f Vancouve .
pu se t ect i it Kootenay Power Lig pursuant to st Koote incl s fou nc pa ('' "' These inte inc eas of a Commis 0 Dec si f tes. As was ted in Commis i concerning is c t, th Princeton system to s has si nifican inc e sed on to P inceton b t Ok n an ser s Kooten The pr y industrial compani s oper t ng area, are r euser C acent to Princeton, e copper Mines td. The icant was repr en a Ha11, Vice-Pr ident, Gr Gou , General rtner of f inane i J i tness. equireme t fr t i " s Koo II ) 45. t. t Koote t m i i of Ma ch 2 ece n rconnect on the B.C. ec f serv ce not r a ea i i Sou n th Prine on a umber mi 1, and i itie Newrnont ing Mr. ,John Bar te Mr. er, • A. ' accounting
I I. TES'r PERIOD se ec a fo ecast 983. This s suppo mon s actual at ns to s est te r ions to ch 31, rate increase, e icant h rate se fo e year ending I preparing e icati n, p inci lis i r 22, 1981, and, in its s r 22, 1981 of norma iz income t accou ting. II . COST OF SERVICE (a) Income Tax Commis ion f s consistent i ncome ut 1ities i u i egulatory accounti e fore a oves tax accounti to 3 st r endi c 31, se yea ompr six 30, 1 81 and X months 82. t ut t ropose ast a return of 5.56% on 31, 83. Company general fol e Decisions of Marc 24 and noted Commi sion' comme ts ion, ha proposed e ion to appr iate accoun ing ted many n. For financi 1 a poses the Comm s ion t f nor z nco me tive ,J nu r 1 , 82.
( ) Ra 1 c t s he a i co ts il 1, 1982. ica t i more i te e inte i i ut , as to s cos em a t of am or lieves a r amort zatio appr iat a co sequent t f (c) Interest nse Dec sio f rch 24, 1 8 cant to boo short te of 15% annum r account. ion a 3 , 8 , Commiss on Dec ox the result a terest deferr ou t t vola rtiz cu nt e a cou se the He a e two year pe od be the t te of t e c e of is ecent t is on at mate al rate ea ing or er 0 h on the s costs omm s on ri to mor has made no ustment t ed Novembe 5, 98 . nstruct e i te est expe se t a t ecor ny variance i a rat was incr to 20% in r 22, 981. aving ned nterest f the yea amou t ions to co t nc rr t year, lance ica t's t 3 ' 1 82. n is t est cost the Comm ion
i s at i t t ined same Dec s on of ecogni on r r t per annum. c tinuat n i interests The Deci ion cant to ze 30% general account uch laries, pens s s. In th s rt 2 % oyee nef ts a oper recor ing of st 2% loadi terials woul prod construction st e Commi s o s c su ission and find c c ating r ace e, commencement to Janua 1, 82, concu r the inte r ief. 5 t ferr l accou t si s u lined i e 22, 9 , w th in rest ng r tinuing a 20 c s t e il st ustome s eholders. 24, 1 81 struc i t at i ist accou ting oye nefits an ffice ny s i aliz t n r t op ate to r fleet the co t . ant so act on cons rue on e e ec r ul s ed this ed thod g s uc on to effective wi e feet ve d e
{e) I icati n of amended to take into account the Income Tax Act as outl 2, 1 81. ul result n tax e revenue requireme t t the current uncertain Commission be ieves at to proposals at is t ili to arn fair a r • r, t Comm sion mat rial n IV. OTHEH Commiss on reviewed the mater a is ication and compliments e entat on. V. RATES e l cation requ st perman fore discount 4.582%. Dec 1, 198 the Comrniss on increase, s ect to r , of .3 r 5, 198 ent propo a es in e e of net t on an annual basis s consequent r uce e $37,000. Due ts enactment rate the 1 asona e return to its cant est hou legis ative c nges e turn to s reholder . fi in t f icant on its t at rel f of .40 r No. G-89- J a oved an int r rate or 1.285%.
s has exam lities and confi j u t easonable. is entitl t recover ul The appr ra s i f 17%, as de rm Dec They a e to be effective upon on and af r Ma ch 1, 82. DATED at ouver, Col ia s d f 7 co t of ser pursuant to its ex ti nterim rat s as ion ican ested nc ease. reque i n of r 22, 981. fili th cons tion P evince riti ch, 82. ssioner
" 0 G-25-82 PROVINCE OF BRITISH COLUMBIA BRITISH COLUMBIA UTILITIES COMMISSION IN THE MATTER OF the Utilities Commission Act, SBC 1980, c. 60 and IN THE MATTER OF an Application by Princeton Light and Power Company, Limited BEFORE: M. Taylor, Chairman; and March 22, 1982 B.M. Sullivan, Commissioner 0 R D E R WHEREAS Princeton Light and Power Company, Limited ("Princeton Light") applied November 5, 1981 to amend the rates to be charged for electric service; and WHEREAS Commission Order No. G-89-81 authorized the implementation of amended tariff rate schedules effective with customer billing issued on or about December 31, 1981, with the 11.285% interim increase subject to refund with interest at the average prime rate of the bank with which Princeton Light conducts its business, pending a public hearing; and WHEREAS Princeton Light's Application was heard in public at Vancouver, B.C. on February 23, 1982, pursuant to the requirements of Commission Order No. G-98-81; and ... /2 TWENTY FIRST FLOOR, 1177 WEST HASTINGS STREET VANCOUVER BC V6E 2l7 CANADA. TELEPHONE {6041689-1831. TELEX 04~54536
9 G-25-82 WHEREAS the Commission has considered the Application and the evidence adduced thereon and finds that Princeton Light has justified the interim rates which became effective on or about January 1, 1982 and that those interim rates augmented by .091 cent/kwh should be the permanent rates to become effective with consumption on and after March 1, 1982, all as set forth in a Decision issued concurrently with this Order. NOW THEREFORE the Commission hereby orders Princeton Light and Power Company, Limited as follows: 1. The rate base for Princeton Light for the test period is: March 31, 1983 $1,748,000 2. The total cost of service including the return on capital employed for the test period is: March 31, 1983 $1,561,772 3. The Commission will accept for filing effective with consumption on and after March 1, 1982, subject to timely filing, amended tariff rate schedules which will permit Princeton Light to generate the annual gross revenue requirement of $1,561,772 as set out in Schedule I of the Commission Decision dated March 18, 1982. DATED at the City of Vancouver, in the Province of British Columbia, this 22nd day of March, 1982. BY ORDER A~ Chairman
I Utility Income Earned Return Forecast for the Sa.les Revenue ,561,772 Discounts , 25,585 Other Income 0 440,875 Cost. of Power Gross in 712,84 General & Administrative Expenses Uti Income before Income Taxes 291,560 Income Taxes: - Current 76,073 - Deferred Rate Base Rate of Return on Rate
FORECAST RATE BASE CAPITALIZATION FOR THE YEAR % of Debenture 50,000 8.58% Customer advances 10,64 Contribution in aid of construction 424,255 24.27% Deferred income taxes 0,899 2% Bank Loan 281,806 Preferred Shares ' 56 .80 Common Share RATE BASE 3 Embedded Cost t 10.50% .90% ,750 .00% 56, .00% 5, 3 17.00
Documen I : l25A Document Name DECI - PRINCE'rON .r tor: Author J. Comme ts: I res r :3 5 9 Last :01 Last st D e 0036 Pages I 1 s to pr
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