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Accounting Change Precipitates Rate Increase
In 1992, Pennsylvania‐American Water Company (PAWC) filed with the state public utility commission (PUC) a tariff supplement designed to increase annual revenue by about $18.7 million. This amount included a claim of $5 million for recovery of expenses previously incurred in providing “OPEBs” (benefits other than pensions‐‐i.e., health care and life insurance) to retired employees. In 1993, as part of a $9 million allowance to PAWC for an increase in annual operating revenues, the PUC also approved the OPEBs claim subject to the establishment of an irrevocable trust for payment of employee benefits.
Accounting Change Precipitates Rate Increase
In 1992, Pennsylvania‐American Water Company (PAWC) filed with the state public utility commission (PUC) a tariff supplement designed to increase annual revenue by about $18.7 million. This amount included a claim of $5 million for recovery of expenses previously incurred in providing “OPEBs” (benefits other than pensions‐‐i.e., health care and life insurance) to retired employees. In 1993, as part of a $9 million allowance to PAWC for an increase in annual operating revenues, the PUC also approved the OPEBs claim subject to the establishment of an irrevocable trust for payment of employee benefits.
Accounting Change Precipitates Rate Increase
1995-05-01
1 pages
Article (Journal)
Electronic Resource
English
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