Saturday, November 04, 2006

MetEd Penelec Rate Decision

Harrisburg Patriot-News:
Two administrative law judges have recommended rejection of a petition from Metropolitan Edison Co. and Pennsylvania Electric Co. to get out from under their electricity rate caps, a move that would have cost their customers $2.25 billion in higher rates over four years.

Whatever financial problems the companies claim to be suffering are of their own making, Wayne L. Weismandel and David A. Salapa said in a 309-page ruling. They are administrative law judges for the state Public Utility Commission.

The judges said testimony from the companies' witness showed that Akron, Ohio-based FirstEnergy, the parent company, was losing little or no money in supplying electricity to its subsidiaries under the rate caps.