For immediate release
December 15, 2000
The Missouri Public Service Commission (PSC)
Thursday (Dec. 14) denied an application by St. Joseph
Light & Power Company for an Accounting Authority Order
(AAO) for expenses associated with an incident
involving one of the generating units at the company's
Lake Road power plant last June.
The company is reviewing the order and considering
whether to file a request with the PSC for a rehearing.
If the application had been approved, it would
have permitted the company to defer about $3.3 million
of incremental expenses incurred as a result of the
incident. In its order, the PSC indicated that, should
the company file a rate case with a test year that
includes the costs of the incident, it would consider
such costs for recovery in rates.
If the order were to become final in its present
form, Light & Power would be required to expense $3.3
million. This would reduce net income and earnings per
share by $2.1 million and 25 cents, respectively.
The incident in June shut down the unit for about
eight weeks while repairs were made. The unit has
performed very well since it was returned to service on
Aug. 8.
(more)
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St. Joseph Light & Power serves about 62,000 electric
customers and 6,400 natural gas customers in northwest Missouri.
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Contact: Jerry Musil
816-387-2636 (office)
816-262-0374 (cellular)
[email protected] (email)
