Courts Affirms Benefits Ruling
The Pennsylvania Commonwealth Court has upheld a ruling by the state Public Utility Commission (PUC) permitting Equitable Gas Co., a natural gas local distribution company (LDC), to recover costs associated with a switch from pay-as-you-go to accrual accounting for post-retirement benefits other than pensions (PBOPs) under Statement of Financial Accounting Standards 106.
The state's Office of Consumer Advocate had appealed the decision, claiming that in approving a nounanimous settlement the PUC had failed to determine whether the utility needed the cost recovery to achieve a fair ra