CVEC Rate Case
CVEC has worked to limit the impact of these rising costs and to postpone the need for a general rate case with loan refinancing, reduced bad debt, better work efficiency and automation, as well as a number of other steps taken to offset higher expenses. This year, however, the Cooperative has filed for a rate increase of 5.77%; the notice of the rate filing can be found below.
NOTICE TO THE PUBLIC OF AN APPLICATION BYCENTRAL VIRGINIA ELECTRIC COOPERATIVE
FOR GENERAL RATE RELIEF
CASE NO. PUR-2018-00125
On August 6, 2018, Central Virginia Electric Cooperative (“CVEC” or “Cooperative”) filed with the State Corporation Commission (“Commission”) an application pursuant to §§ 56‑231.33, 56-231.34, 56-236, 56-238, and 56-585.3 of the Code of Virginia requesting approval of its proposed rates and charges (“Application”). CVEC also filed a Motion for Protective Ruling in accordance with 5 VAC 5-20-170 of the Commission's Rules of Practice and Procedure, 5 VAC 5‑20-10 et seq. (“Rules of Practice”).
In its Application, CVEC requests that the Commission allow it to revise retail rates to increase total system revenues by approximately $5 million, an overall increase of 5.9%. The Cooperative states that, based on pro-forma test-year results, the rates requested in this Application will result in a jurisdictional rate of return on rate base of 5.77% and produce a total system times interest earned ratio of 2.25, or 2.19 on a jurisdictional basis. CVEC proposes changes to both the volumetric and fixed monthly charges for its customers on Rate Schedule A – Farm and Home; Rate Schedule B – General Services; Rate Schedule LP – Large Power Service; Rate Schedule I – Commercial and Industrial Service; and Rate Schedule SHL – Street, Highway and Homestead Lighting Service.
CVEC requests that the Commission authorize the Cooperative to place its proposed rates into effect for service rendered on and after November 1, 2018, subject to refund, if any, based on the Commission's Final Order. CVEC submits that placing its proposed rates into effect on November 1, 2018, will allow the Cooperative to maintain a strong financial position in order to better serve its members.
CVEC also is proposing to revise its Terms and Conditions for Providing Electric Service. These proposed revisions include changes regarding installment deposit payments; use of electric distribution service; extension of facilities; and the budget billing program. CVEC also proposes to increase its meter testing fees from $30 to $60 for single phase meters and from $39 to $90 for poly phase meters.
For more detailed information about the Cooperative's proposals, interested persons should view CVEC's Application. While the total revenue that may be approved by the Commission is limited to the amount produced by the Cooperative's proposed rates, TAKE NOTICE that the Commission may approve revenues and adopt rates, fees, charges, tariff revisions, and terms and conditions of service that differ from those appearing in the Application and supporting documents and may apportion revenues among customer classes and/or design rates in a manner differing from that shown in the Application and supporting documents.
The Commission issued an Order for Notice and Hearing (“Order”) in this proceeding that, among other things, scheduled a public hearing on March 27, 2019, at 10 a.m., in the Commission's second floor courtroom located in the Tyler Building, 1300 East Main Street, Richmond, Virginia 23219, to receive testimony from members of the public and evidence related to the Application from the Cooperative, any respondents, and the Commission Staff. Any person desiring to testify as a public witness at this hearing should appear fifteen (15) minutes prior to the starting time of the hearing and contact the Commission's Bailiff.
Copies of the Cooperative's Application and this Order are available for public inspection during regular business hours at CVEC's business offices in the Commonwealth of Virginia. Copies also may be obtained by submitting a written request to counsel for CVEC, Timothy E. Biller, Esquire, Hunton Andrews Kurth LLP, 951 East Byrd Street, Richmond, Virginia 23221. If acceptable to the requesting party, the Cooperative may provide the documents by electronic means. In addition, interested persons may review copies of all public documents filed in this proceeding in the Commission's Document Control Center, located on the first floor of the Tyler Building, 1300 East Main Street, Richmond, Virginia 23219, between the hours of 8:15 a.m. and 5 p.m., Monday through Friday, excluding holidays. Interested persons also may download unofficial copies from the Commission's website: http://www.scc.virginia.gov/case.
On or before March 20, 2019, any person wishing to comment on CVEC's Application may file written comments with Joel H. Peck, Clerk, State Corporation Commission, c/o Document Control Center, P.O. Box 2118, Richmond, Virginia 23218-2118. Interested persons desiring to file comments electronically may do so by following the instructions on the Commission's website: http://www.scc.virginia.gov/case. Compact discs or any other form of electronic storage medium may not be filed with the written comments. All such comments shall refer to Case No. PUR-2018-00125.
Any person or entity may participate as a respondent in this proceeding by filing a notice of participation on or before November 8, 2018. If not filed electronically, an original and fifteen (15) copies of the notice of participation shall be submitted to Joel H. Peck, Clerk, State Corporation Commission, c/o Document Control Center, P.O. Box 2118, Richmond, Virginia 23218-2118. A copy of the notice of participation as a respondent also shall be sent to CVEC's counsel at the address set forth above.