Florida Regulations 25-6.0424: Petition for Mid-Course Correction
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(1) To request a mid-course correction to the fuel cost recovery or capacity cost recovery factors, a utility shall file a petition for mid-course correction which shall contain the following information:
(a) The estimated percentage of year-end over-recovery or under-recovery calculated using the estimated End-of-Period Total Net True-up divided by the current period’s total actual and estimated Jurisdictional Fuel Revenue Applicable to Period. The estimated End-of-Period Total Net True-up consists of the difference between estimated and actual prior-period net true-ups, plus the estimated current-period monthly over/under-recoveries, plus the estimated current-period interest. The total actual and estimated Jurisdictional Fuel Revenue Applicable to Period consists of the best estimate of reprojected revenues for the period using the current cost recovery factor. The appropriate method to determine the over-recovery or under-recovery percentage for capacity costs is to make a similar percent calculation using up-to-date capacity cost recovery revenue and true-up amounts.
(b) The appropriate schedules from Form PSC/AFD 009-E (07/10) reflecting the estimated End-of-Period Total Net True-up based upon current cost recovery factors and revised fuel expenses. For a fuel mid-course correction, schedules E1 through E10 shall be filed. For a capacity mid-course correction, schedules E12-A through E12-E shall be filed. Form PSC/ECR 009-E (07/10), incorporated by reference in this rule and entitled “”Mid-Course Correction Schedules,”” may be obtained from the Commission’s Division of Accounting and Finance.
(2) In the event that the absolute value of the over-recovery or under-recovery either for fuel cost recovery or capacity cost recovery is 10 percent or greater, the utility shall promptly notify the Commission by letter delivered to the Commission Clerk. The notification of a 10 percent or greater estimated over-recovery or under-recovery shall include a petition for mid-course correction to the fuel cost recovery or capacity cost recovery factors, or shall include an explanation of why a mid-course correction is not practical. This section in no way precludes a utility from requesting a mid-course correction prior to reaching the 10 percent threshold requiring Commission notification.
(3) When filing a petition for mid-course correction to the fuel cost recovery or capacity cost recovery factors, a utility shall file 10 copies of the petition with the Office of Commission Clerk, 2540 Shumard Oak Boulevard, Tallahassee, Florida 32399-0850, and an electronic copy with the Commission Clerk at Clerk@psc.state.fl.us. The Director of the Division of Accounting and Finance shall be the designee of the Commission for purposes of determining whether the utility has met the minimum filing requirements imposed by this rule.
Rulemaking Authority Florida Statutes § 350.127(2), 366.06(1) FS. Law Implemented 366.041, 366.05(1), 366.06(1), 366.076 FS. History-New 7-19-10.
(a) The estimated percentage of year-end over-recovery or under-recovery calculated using the estimated End-of-Period Total Net True-up divided by the current period’s total actual and estimated Jurisdictional Fuel Revenue Applicable to Period. The estimated End-of-Period Total Net True-up consists of the difference between estimated and actual prior-period net true-ups, plus the estimated current-period monthly over/under-recoveries, plus the estimated current-period interest. The total actual and estimated Jurisdictional Fuel Revenue Applicable to Period consists of the best estimate of reprojected revenues for the period using the current cost recovery factor. The appropriate method to determine the over-recovery or under-recovery percentage for capacity costs is to make a similar percent calculation using up-to-date capacity cost recovery revenue and true-up amounts.
(b) The appropriate schedules from Form PSC/AFD 009-E (07/10) reflecting the estimated End-of-Period Total Net True-up based upon current cost recovery factors and revised fuel expenses. For a fuel mid-course correction, schedules E1 through E10 shall be filed. For a capacity mid-course correction, schedules E12-A through E12-E shall be filed. Form PSC/ECR 009-E (07/10), incorporated by reference in this rule and entitled “”Mid-Course Correction Schedules,”” may be obtained from the Commission’s Division of Accounting and Finance.
(2) In the event that the absolute value of the over-recovery or under-recovery either for fuel cost recovery or capacity cost recovery is 10 percent or greater, the utility shall promptly notify the Commission by letter delivered to the Commission Clerk. The notification of a 10 percent or greater estimated over-recovery or under-recovery shall include a petition for mid-course correction to the fuel cost recovery or capacity cost recovery factors, or shall include an explanation of why a mid-course correction is not practical. This section in no way precludes a utility from requesting a mid-course correction prior to reaching the 10 percent threshold requiring Commission notification.
(3) When filing a petition for mid-course correction to the fuel cost recovery or capacity cost recovery factors, a utility shall file 10 copies of the petition with the Office of Commission Clerk, 2540 Shumard Oak Boulevard, Tallahassee, Florida 32399-0850, and an electronic copy with the Commission Clerk at Clerk@psc.state.fl.us. The Director of the Division of Accounting and Finance shall be the designee of the Commission for purposes of determining whether the utility has met the minimum filing requirements imposed by this rule.
Rulemaking Authority Florida Statutes § 350.127(2), 366.06(1) FS. Law Implemented 366.041, 366.05(1), 366.06(1), 366.076 FS. History-New 7-19-10.