United Telephone Co. v. Beard

HARDING, Justice.

This cause is before us on direct appeal brought by United Telephone Company (United) to review Orders No. 24049 and No. 24595 of the Florida Public Service Commission (Commission). The orders at issue determined that United’s 1990 rate of return on equity (ROE) would exceed the authorized rate and provided for the disposition of certain revenues held subject to corporate undertaking. We have jurisdiction pursuant to article V, section 3(b)(2) of the Florida Constitution. For the reasons expressed below, we quash the Commission’s orders and remand for a hearing as to United’s…