Below is a portion of the cover letter of a Proposed Settlement
Agreement filed by TrAILCo about an hour ago.
JBK
******
The enclosed Joint Stipulation and Agreement for Settlement recites the
relevant
procedural background and concerns of its parties, and then sets forth
in detail a number of
substahtive provisions in modification of those parties' previously
asserted positions on various
issues. While the document speaks for itself, its notable provisions
include:
TrAILCo, along with Monongahela Power Company and The Potomac Edison
Company, have agreed to increase the financial benefits associated with
the
certification, construction, and operation of the West Virginia
Segments of TrAIL
through financial commitments estimated to be approximately $42 million
to
West Virginia ratepayers, the State, and its citizens, as well as
commitments for
an additional investment estimated at $50 million and additional annual
payroll
and benefits estimated at $12 million. TrAILCo has further committed to
adopt,
wholly or in part, numerous proposals of Staff and/or other parties
concerning the
routing, engineering, construction, operation, and maintenance of
TrAIL.
The Staff, CAD, and WVEUG have agreed to affirmatively support the need
for
TrAIL pursuant to W: Vu. Code 6 24-2-1 la(d)(l).
All of the stipulating parties jointly recommend to the Commission that
the siting
of the West Virginia Segments of TrAIL along the originally proposed
route, as
modified by the Grafton Area Route, will result in an acceptable
balance between
reasonable power needs and reasonable environmental factors pursuant to
W: Vu.
Code @24-2-lla(d)(2). (TrAILCo stands by its commitments to Laurence
and
Angela Williams set forth in a previously filed partial stipulation.)
The enclosed stipulation includes several important terms and
conditions, and recites the
bases for the modification of the stipulating parties’ several
positions. In order to facilitate the
Commission’s consideration, TrAILCo has moved for a tolling of its
right to a decision within
the period otherwise provided in W: Vu. Code 0 24-2-1 l(f) and (g), to
June 2,2008.