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(a) A provisionally certificated utility shall file the following on or before January 31 of each year:
(1) a fee of $100;
(2) an affidavit stating that the utility continues to meet the qualifications for provisional certification set out in 3 AAC 52.720;
(3) a statement of any changes to information submitted with the utility's application for provisional certification;
(4) an informational filing detailing the rates the utility will charge for the classes of service available and the date when those rates will be effective;
(5) the utility's income statement for the last fiscal year, showing revenue and expenses including capital recovery, and identifying all sources of revenue including customer fees and operational subsidies from other sources.
(b) A provisionally certificated utility must demonstrate financial sustainability by charging rates that, together with any available subsidy, are sufficient to produce annual revenue equal to or greater than the sum of annual operating expenses and either depreciation expense or reserve fund charges. The commission will consider a provisionally certificated utility to be critically noncompliant with the financial sustainability standard in this subsection if the sum of operating expenses and either depreciation expense or reserve fund charges exceeds the utility's revenue annually for three consecutive years. The commission will consider a provisionally certificated utility to be critically noncompliant with the financial sustainability standard in this subsection if annual operating expenses exceed the utility's annual revenue for three consecutive years, or if operating expenses exceed the utility's revenues by more than 50 percent in a single year. The commission will notify a chronically or critically noncompliant utility that the utility does not meet the financial sustainability standard. The commission will also notify appropriate federal and state agencies and nongovernmental organizations responsible for administering funding and providing assistance to water and wastewater utilities that a chronically or critically noncompliant utility does not meet the financial sustainability standards. The commission may, upon complaint or its own motion, initiate a formal proceeding under 3 AAC 48.070(c) to investigate a noncompliant utility. A utility may correct its noncompliant status by meeting the financial sustainability standard in this subsection for one year after the utility has been notified of noncompliant status.
(c) A provisionally certified utility must submit an application as provided in 3 AAC 52.722 before modifying its service area. A utility filing for a service area amendment must include the revised portions of its tariff with its application.
(d) In accordance with AS 42.05.271 , the commission may revoke the provisional certification of a utility that fails to make the filings required in (a) of this section.
History: Eff. 6/19/2004, Register 170
Authority: AS 42.05.141
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Last modified 7/05/2006