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Virginia Administrative Code
Title 20. Public Utilities and Telecommunications
Agency 5. State Corporation Commission
Chapter 320. Regulations Governing Transfer of Transmission Assets to Regional Transmission Entities

20VAC5-320-110. Contents of Incumbent Electric Utility Filing, Part II.

Part II of the filing required pursuant to 20VAC5-320-90 shall include, at a minimum, the following:

1. A copy of the transaction agreement signed by an appropriate utility official.

2. A description of the proposed transfer and the terms and conditions of the transaction to include historical and current use of the property, proposed use of the property, original cost of the property, current net book cost of the property, proposed sales price of the property and the method of determining the price, and the proposed accounting treatment of the transaction as well as current recording on company's books of record.

3. Assurances that adequate service to the public at just and reasonable rates will not be impaired by the proposed transfer.

4. Other details of the sale, such as:

a. A showing that the sales price was or will be determined at arms length;

b. A description of whether the purchase price is at book cost, market value, or some other measure;

c. A description of how the proceeds from the sale will be used;

d. A schedule of plant, book depreciation, and contributed property related to the assets to be transferred up to the current date;

e. An analysis of the anticipated impact of the transfer on the regulated company's rates and service, capital structure, and access to capital and financial markets, including copies of any pertinent published financial reports.

5. Discussion of favorable and unfavorable economic impacts on the Commonwealth of Virginia to include employee levels, facilities, and services provided.

6. Anticipated impact of the transfer on competition and market power.

Statutory Authority

§§ 12.1-13 and 56-579 of the Code of Virginia.

Historical Notes

Derived from Volume 16, Issue 24, eff. July 19, 2000.

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