Old Dominion Power Co. v. STATE CORP. COM'N

Old Dominion Power Company, Inc., of Virginia filed a general rate application with the State Corporation Commission on May 23, 1983, requesting an increase to 16% in its authorized return on equity. It also requested approval of a purchased power expense clause which would permit Old Dominion automatically to pass on to its customers any future increases in its cost for wholesale purchases of power. The Commission, by final order entered on February 9, 1984, adopted 14.5% as a proper return on equity for fixing rates and denied Old Dominion’s request for an automatic adjustment clause. We…