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PSC staff outlines Summit Utilities settlement; lawmakers demand probe of deferred maintenance and due diligence
Summary
PSC staff told the committee a settlement in the Summit Utilities rate case would raise the average residential gas bill from about $65 to $80; legislators pressed on $300M–$500M in plant work, removal of about $850M goodwill, and approved a motion requesting an investigative report on deferred maintenance, due diligence and rate impacts.
Representatives of the Arkansas Public Service Commission (PSC) and the PSC general staff briefed the Senate Insurance & Commerce Committee on the ongoing Summit Utilities rate case and a settlement agreement filed Oct. 7.
PSC staff explained the mechanics of a rate case—revenue requirement components (operation & maintenance, depreciation, taxes and return on rate base), the ten‑month statutory clock for utility dockets and the commission’s duty to set "just and reasonable" rates under Title 23 of the Arkansas Code. Staff said Summit filed its application Jan. 20 and that the PSC’s evidentiary hearings were held in October. The deadline for the commission to issue an order on the requested rates is…
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