General Telephone Co. v. Public Utilities Commission

Appellant contends that the commission erred in computing the rate of return to which it is entitled, in that (1) the commission determined the dollar amount of return prior to determining the rate of return, *273and (2) that, such determination was based on the actual capitalization of the utility rather than the statutory rate base.

This court, in Cleveland v. Pub. Util. Comm. (1956), 161 Ohio St. 112, set forth six steps which the commission must follow in a rate case of this nature. We are concerned herein with the first three steps, which in substance are as follows:

1. Statutory Rate Base:…