Thursday, February 28, 2019

PUC Adopts Revised Procedures For Acquisition, Valuation Of Municipal, Authority-Owned Water, Wastewater Systems

On February 28, the Public Utility Commission adopted a Final Supplemental Implementation Order that addresses enhanced procedures for how acquiring public utilities or entities are to prepare and submit applications to acquire and value municipal and authority-owned water and wastewater systems under Section 1329 of the Public Utility Code.
The Commission voted 5-0 to adopt the Final Supplemental Implementation Order, following the detailed review of public comments on the proposed changes to procedures and guidelines.
Signed into law as Act 12 of 2016, Section 1329 of the Public Utility Code addresses the sale of water and wastewater systems owned by municipal corporations or authorities by providing a process for the sale of public water and wastewater assets at fair market values.
With the benefit of more than two years of experience applying Section 1329 to applicable transfers of control under Chapters 11 and 13 of the Public Utility Code and PUC regulations, the Final Supplemental Implementation Order includes a series of enhancements, including:
-- Procedures for notifying all potentially affected consumers, including non-binding estimates of likely incremental rate effects to the ratepayers of the acquired and acquiring utility systems.
-- An Application Filing Checklist.
-- Application Standard Data Requests.
-- Additional Guidelines for Utility Valuation Experts.
-- Guidelines for testimony submitted by Utility Valuation Experts.

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