South Carolina Cable Television Ass'n v. Public Service Commission

Finney, Justice:

This is an appeal from an order of the circuit court affirming respondent Public Service Commission’s (PSC’s) order adopting an alternative regulatory rate-setting formula for local telephone companies (LECs). Appellants raise two issues on appeal: whether the PSC has the power and authority to *51adopt this Earnings Sharing Plan (ESP); and whether the evidence before the PSC supports the ESP’s adoption. Finding both a lack of authority and insufficient evidence, we reverse.

It is the PSC’s statutory duty to set rates which are just and reasonable. S.C. Code Ann. § 58-9-210…