Changes in Revenue Requirements for Three Rate Years Sample Clauses

Changes in Revenue Requirements for Three Rate Years. This Settlement Agreement provides for the following changes in base distribution rate annual revenue requirements for Narragansett Electric and Narragansett Gas for each of the Rate Years of the Rate Plan (i.e., Rate Year 1, Rate Year 2, and Rate Year 3) to provide funding for the Company’s electric and gas operations and PST Plan initiatives, including: Updated AMF Business Case; GIS Investments; System Data Portal; DSCADA; other Grid Modernization investments; Electric Transportation; Electric Heat; and Electric Storage. Base Case Narragansett Electric ($M) Narragansett Gas ($M) Total ($M) Rate Year 1 $14.1 $5.5 $19.6 Rate Year 2 $3.9 $5.5 $9.4 Rate Year 3 $2.0 $3.3 $5.3 Subtotal – Base Case $20.0 $14.3 $34.3 Power Sector Transformation Rate Year 1 $5.3 $1.4 $6.7 Rate Year 2 $4.1 $0.5 $4.6 Rate Year 3 $1.9 $0.6 $2.5 Subtotal – PST $11.3 $2.5 $13.8 Base Case plus PST Rate Year 1 $19.4 $6.9 $26.3 Rate Year 2 $8.0 $6.0 $14.0 Rate Year 3 $3.9 $3.9 $7.8 TOTAL $31.3 $16.8 $48.1 The components of the base distribution revenue requirements for Narragansett Electric and Narragansett Gas are set forth in Attachment 2, Schedules 1-ELEC and 2-GAS, respectively. To reach a settlement in these proceedings, the Company accepted the majority of the downward adjustments to operating expenses and rate base that were recommended by the Division, as outlined in the table below. Rate Year ($M) 1 2 3 March 2, 2018 (REV-1) Base Rate Request $45.8 Refund of Excess Deferred Taxes ($9.0) A&G Expense Reclassification to Capital ($4.5) ▇▇▇▇▇ ▇, ▇▇▇▇ (▇▇▇-▇) Base Rate Request $32.410 10 As described in Section 4.h. (Narragansett Electric) and Section 8.h. (Narragansett Gas), the Company will include all other revenue requirement adjustments either (1) identified during discovery, (2) in the preparation of the May 9, 2018 rebuttal cost of service, and (3) resulting from changes presented in the rebuttal testimony in its compliance filing revenue requirement in this docket. These adjustments account for the difference between the Company’s adjusted March 2, 2018 request of $32.4 million and the request of $34.3 million submitted with the Company’s rebuttal filing on May 9, 2018. Subtotal - Expense Adjustments ($12.5) $0.0 $0.0 Subtotal - Rate Base Adjustments ($3.1) $0.0 $0.0 Adjustment to Revenue Requirement for Rate Base Adjustments ($0.3) Total Adjustments ($12.7) $0.0 $0.0 Subtotal - Adjusted Base Rate Request $19.6 $9.4 $5.3 PST Adjustments $6.7 $4.6 $2.5 Total Settlement - Base...
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Related to Changes in Revenue Requirements for Three Rate Years

  • Availability of Earnings Statements The Company shall make generally available to holders of its securities as soon as may be practicable but in no event later than the last day of the fifteenth (15th) full calendar month following the calendar quarter in which the most recent effective date occurs in accordance with Rule 158 of the Rules and Regulations, an earnings statement (which need not be audited but shall be in reasonable detail) for a period of twelve (12) months ended commencing after the effective date, and satisfying the provisions of Section 11(a) of the Act (including Rule 158 of the Rules and Regulations).

  • Financial Covenant Required Actual Complies Maintain as indicated:

  • Changes in Fiscal Periods Permit the fiscal year of the Borrower to end on a day other than December 31 or change the Borrower’s method of determining fiscal quarters.

  • Interest Rates and Letter of Credit Fee Rates Payments and Calculations (a) Interest Rates. Except as provided in Section 2.13(c) and Section 2.15(a), all Obligations (except for the undrawn portion of the face amount of Letters of Credit) that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal to the lesser of (i) the LIBOR Rate plus the Applicable Margin, or (ii) the maximum rate of interest allowed by applicable laws; provided, that following notice to Borrower in accordance with Section 2.15(a) hereof, all Obligations that have been charged to the Loan Account pursuant to the terms hereof shall bear interest at a per annum rate equal, during the duration of the circumstances described in Section 2.15(a), to the lesser of (A) the Base Rate plus the Applicable Margin as calculated pursuant to Section 2.15(a) or (B) the maximum rate of interest allowable by applicable laws.

  • Financial Covenant Calculations The parties hereto acknowledge and agree that, for purposes of all calculations made in determining compliance for any applicable period with the financial covenants set forth in Section 6.7 and for purposes of determining the Applicable Margin, (i) after consummation of any Permitted Acquisition, (A) income statement items and other balance sheet items (whether positive or negative) attributable to the target acquired in such transaction shall be included in such calculations to the extent relating to such applicable period (including by adding any cost saving synergies associated with such Permitted Acquisition in a manner reasonably satisfactory to the Agent), subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness of a target which is retired in connection with a Permitted Acquisition shall be excluded from such calculations and deemed to have been retired as of the first day of such applicable period and (ii) after any Disposition permitted by Section 6.8), (A) income statement items, cash flow statement items and balance sheet items (whether positive or negative) attributable to the property or assets disposed of shall be excluded in such calculations to the extent relating to such applicable period, subject to adjustments mutually acceptable to Borrowers and the Agent and (B) Indebtedness that is repaid with the proceeds of such Disposition shall be excluded from such calculations and deemed to have been repaid as of the first day of such applicable period.