---------- Forwarded message ---------- From: Keryn Newman stoppath@frontiernet.net Date: Mon, Oct 8, 2012 at 10:48 AM Subject: PATH files for abandonment To: CONS-ELP-TRANS-LINES-FORUM@lists.sierraclub.org
On Sept. 28, PATH made a filing at FERC to recover $121M in abandoned plant amortized over a 5 year period at 10.9% ROE. This is the first step for PATH in cashing in on the incentive they were granted that enables them to collect 100% of prudently-incurred investment in the project in the event the project is cancelled for reasons beyond PATH's control. The docket number is ER12-2708, and here is a link to the filing: http://www.pjm.com/~/media/documents/ferc/2012-filings/20120928-er12-2708-00...
PATH's claim that the cancellation of the project was unforeseen is pretty weak, along with their claims of prudent spending. Some of their statements more closely resemble a creative re-writing of history.
PATH has requested that FERC approve the recovery and changes to its Formula Rate without modification, suspension or hearing effective December 1, 2012. If no party objects, FERC may just do that.
FERC has set a deadline to intervene, comment, protest PATH's filing of 5 p.m. on October 19. Three parties have already intervened, but none have protested or proffered any evidence of why FERC should not approve the proposal.
Several consumers plan to intervene/protest, myself included. In an order granting challenges and complaints on Sept. 20, FERC confirmed that end-use consumers have standing to participate.
The ultimate goal at present is to convince FERC to set the matter for settlement/hearing. Only parties who have submitted a timely intervention will be able to participate in settlement/hearing.
If you or your organization would like to participate, you need to file by October 19. If you'd like to do so but have questions, I'd be happy to provide more information.
Keryn
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