Lambertville Water Co. v. New Jersey Board of Public Utility Commissioners

The opinion of the court was delivered by

Larner, J. A. D.

This is an appeal from the determination of the Board of Public Utility Commissioners (Board) of an application for a rate increase by Lambertville Water Company (Lambertville). Lambertville limits its appeal to two issues: (1) failure of the Board to include in the revenue calculations an allowance for federal income tax expense at the statutory rate of 48%, and (2) the refusal to effectuate the rate relief retroactively to April 1, 1975.

The question relating to the income tax expense arises because Lambertville is a subsidiary of…