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EMD-80-75 1 (1980-06-23)

handle is hein.gao/gaobabatv0001 and id is 1 raw text is: J|46vi REPORT BY THE Comptroller General OF THE UNITED STATES Construction Work In Progress Issue Needs Improved Regulatory Response For Utilities And Consumers As of late 1979, 33 State public utility com- missions and the Federal Energy Regulatory Commission were allowing privately owr d, electric companies to include constructh# work in progress in the rate base for establish- ing utility rates. Critics of this policy contend that it unfairly boosts utility bills because it allows companies to earn a return on plant and equipment not yet serving the public. GAO sees the real issue as being whether com- panies need rate relief to maintain financial integrity, and whether construction programs which depend on such relief are needed to meet future electric energy demands. The report recommends that the Commission establish a rulemaking proceeding to define criteria for companies seeking permission to include construction work in progress in their rate bases. It also recommends that the De- partment of Energy provide information for the Commission's rulemaking proceeding by analyzing the effects of the regulatory treat- ment of construction work in progress on the future availability and cost of electric energy supplies. ~D STp QF r0 - '/ 4, 112805 71 EMD-80-75 JUNE 23, 1980

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