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.