HomeMy WebLinkAboutAgenda Report - June 2, 1993 (59)o.
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CITY OF LODI COUNCIL COMMUNICATION
AGENDA TITLE: Communications (May 13, 1993 through May 26, 1993)
MEETING DATE: June 2, 1993
PREPARED BY: City Clerk
RECOMMENDED ACTION:
AGENDA ITEM RECOMMENDATION
Information only.
BACKGROUND INFORMATION: The following connunication was received
between the dates of May 13, 1993 and May 26,
1993:
The attached notice was received from Pacific
Gas and Electric Company (PG&E) regarding its
application filed with California Public
Utilities Commission (CPUC) requesting a lower
return on equity for 1994 for ratemaking
purposes. The request would decrease the
return on equity from 11.9 to 11.5 percent and
decrease the overall cost of capital from 10.13
to 9.82 percent, effective January 1, 1994.
FUNDING: None required.
Jennifer M. Perrin
City Clerk
C0UNC0M8/TXTA.02J/C0U4C0M
APPROVED. to
THOMAS A. PETERSON recycled paper
City Manager
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Pacific Gas and Electric Company
May 14, 1993 L4y�EP,
TO: THE STATE, COUNTY AND CITY OFFICIALS
cc AND INTERESTED PARTIES
Pacific Gas and Electric Company (PG&E) has filed Application
No. 93-05-009 with the California Public Utilities Commission
(CPUC or commission) in which it requests a lower return on
equity for 1994 for ratemaking purposes. The request would
decrease the return on equity from 11.9 to 11.5 percent and
decrease the overall cost• of capital from 10.13 to 9.82
percent, effective January 1, 1994. The lower authorized rate
of return request would result in an overall reduction of
$43,612,000 consisting of $33,513,000 in lower electric
revenues and $10,099,000 in lower gas revenues.
Any revenue decreases which may result from this application
will be consolidated with anticipated revenue changes
resulting from PG&E's other 1993 CPUC proceedings. As a
result, the net electric and gas revenue changes for 1994 may
not be a decrease. However, PG&E has announced that it
intends to have a zero net change in electric rates in 1994
consistent with PG&E's announced commitment to freeze retail
electric rates through the end of 1994. PG&E has adopted this
objective to enhance the potential for advancing the recovery
of the California economy. PG&E has not made a similar rate
freeze announcement with respect to gas rates.
The Commission will hold hearings on the proposed changes in
authorized return. Parties at those hearings may offer
proposals to the CPUC which differ substantially from those
requested by PG&E. After considering all proposals presented
during the formal hearing process, the Commission will issue
a decision. The actual return adopted by the Commission may
differ significantly from PG&E'S original request and may
result in an increase or decrease in rates.
If you wish to participate in the hearings or need advice,
please write to the Public Advisor, California Public
Utilities Commission at 505 Van Ness Avenue, Room 5303, San
Francisco, CA 94102. Inquiries about the date, time, and
place of hearing on the Application may be directed to the
Public Advisor.
Government officials and Interested Parties
May 14, 1993
Page 2
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A copy of the Application and related exhibits may also be
examined at the Commission, as well as the offices of Pacific
Gas and Electric Company, 77 Beale Street, Room 3127, San
Francisco, CA 94106; or at PGLE's Regional Offices in Fresno,
Oakland, Sacramento, or San Jose.
This notice is given in accordance with Rule 24 of the Rules
of Practice and Procedure of the California Public Utilities
Commission.
PACIFIC GAS AND ELECTRIC COMPANY
By V -3t'
Kermit R. Kub4tz