Office of Consumers' Counsel v. Public Utilities Commission

I

I dissent from the decision and opinion of the majority allowing Toledo Edison an additional increment in its cost of common equity based on the perceived increased risk to investors which is attributable to our decision in Consumers’ Counsel v. Pub. Util. Comm. (1981), 67 Ohio St. 2d 153 [21 O.O.3d 96], dismissed in 455 U.S. 914 (“CEI”).

In Consumers’ Counsel v. Pub. Util. Comm. (1983), 4 Ohio St. 3d 111, 116 (“CEI II”), I expressed my dismay because that decision marked “* * * the second time that the majority of this court ha[d] turned its back on CEI. See Consumers’ Counsel v. Pub. Util.…