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- Title
TWO RATE DECISIONS OF IMPORTANCE.
- Authors
Heilman, R.E.
- Abstract
The article highlights various court rulings on rates applications filed by utilities firms in the U.S. Two rate decisions have recently been made, both noteworthy because of the importance of the questions at issue. One was rendered by the Massachusetts Public Service Commission, and considers the obligation of the state towards securities which it has approved; the other is by the New Jersey Court of Errors and Appeals, and deals with the problem of franchise values. The Massachusetts decision considers whether and how far the approval of securities by a public utilities commission. The United States Supreme Court in the Consolidated Gas case refused to permit the rate for gas in New York City to be lowered beyond the point where a fair return would be assured upon all the capitalization which had previously been authorized by the state legislature. In spite of this decision, most of the states which have recently undertaken the control of capitalization are proceeding upon the theory that securities approved by them need not necessarily be taken into consideration in making rates.
- Subjects
UNITED States; PUBLIC utilities; RATE of return; USER charges; LEGAL judgments; TAXATION of public utilities
- Publication
Quarterly Journal of Economics, 1915, Vol 29, Issue 4, p840
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1883312