The WV PSC Commissioners are lazy and don't really care how utilities under their jurisdiction rip you off. The WV PSC prefers to play the role of hapless victim to the actions of PJM and FERC when it comes to planning and cost allocation decisions that affect you.
While FERC (and now PJM with their new State Commissions committee) expect the states to play a proactive role in transmission planning and review of FERC formula rates that are collected from their consumers, the WV PSC can't be bothered to protect your interests. They prefer to completely ignore all that stuff and let the power companies do whatever the heck they want. This costs you money every month in your electric bill and subjects you to needless and costly transmission project proposals, such as PATH, that are not in the best interests of West Virginians.
Yesterday, the PSC demonstrated this by issuing an order allowing TrAILCo an exemption to state code that requires the company to submit to PSC approval of the sale of utility property. TrAILCo can now proceed with their plans, except...
"The Commission has not reviewed the TrAILCo Transmission Tariff or formula rate calculations, but if Nonutility Property is not included in Rate Base under the FERC approved Formula Rate and TrAILCo inadvertently recorded the properties in question to some other account that is included in rate base, TrAILCo should make any true-up and adjustments that are appropriate in accordance with FERC ratemaking requirements."
Yeah, they should, shouldn't they? We know the accounting wasn't done properly, don't we, TrAILCo? Of course, the WV PSC lapdog is never going to bother to check up on that. They would rather that FERC just audit TrAILCo every once in a while.
If you want to see the letters and TrAILCo's answer that were submitted in this case, go here, here, here and here. Who can put their finger on the part of TrAILCo's answer that gives the inappropriate accounting away? Are you brighter than the WV PSC?
Jackson Kelly should be thanking Patience and I for upping their billable hours here by taking a few minutes to submit a couple of letters that threw a monkey wrench in TrAILCo's plans. And TrAILCo should get busy making the proper accounting adjustments...
While FERC (and now PJM with their new State Commissions committee) expect the states to play a proactive role in transmission planning and review of FERC formula rates that are collected from their consumers, the WV PSC can't be bothered to protect your interests. They prefer to completely ignore all that stuff and let the power companies do whatever the heck they want. This costs you money every month in your electric bill and subjects you to needless and costly transmission project proposals, such as PATH, that are not in the best interests of West Virginians.
Yesterday, the PSC demonstrated this by issuing an order allowing TrAILCo an exemption to state code that requires the company to submit to PSC approval of the sale of utility property. TrAILCo can now proceed with their plans, except...
"The Commission has not reviewed the TrAILCo Transmission Tariff or formula rate calculations, but if Nonutility Property is not included in Rate Base under the FERC approved Formula Rate and TrAILCo inadvertently recorded the properties in question to some other account that is included in rate base, TrAILCo should make any true-up and adjustments that are appropriate in accordance with FERC ratemaking requirements."
Yeah, they should, shouldn't they? We know the accounting wasn't done properly, don't we, TrAILCo? Of course, the WV PSC lapdog is never going to bother to check up on that. They would rather that FERC just audit TrAILCo every once in a while.
If you want to see the letters and TrAILCo's answer that were submitted in this case, go here, here, here and here. Who can put their finger on the part of TrAILCo's answer that gives the inappropriate accounting away? Are you brighter than the WV PSC?
Jackson Kelly should be thanking Patience and I for upping their billable hours here by taking a few minutes to submit a couple of letters that threw a monkey wrench in TrAILCo's plans. And TrAILCo should get busy making the proper accounting adjustments...
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