INTRODUCTION AND PROCEDURAL BACKGROUND Sample Clauses

The 'Introduction and Procedural Background' clause serves to provide an overview of the case or agreement and outline the relevant procedural history leading up to the current document. It typically summarizes the parties involved, the nature of the dispute or transaction, and the key procedural steps that have occurred, such as prior filings, motions, or hearings. By presenting this context, the clause ensures that readers understand the background and procedural posture, thereby clarifying the circumstances under which the document is being issued or the agreement is being made.
INTRODUCTION AND PROCEDURAL BACKGROUND. This Settlement Agreement (“Agreement”) is entered into this 3 day of June 2021, among Aquarion Water Company of New Hampshire, Inc. (“Aquarion” or the “Company”), the Office of the Consumer Advocate (“OCA”), Staff of the Commission participating in this proceeding (“Staff”), and the Towns of Hampton and North Hampton (together, the “Towns”) (collectively, the “Settling Parties”), in order to set temporary rates for the Company pursuant to RSA 378:27. On November 18, 2020, Aquarion filed with the Commission its Notice of Intent to File Rate Schedules pursuant to N.H. Code Admin. Rule Puc 1604.05, along with a petition for Permanent and Temporary Rates, proposed revised tariff pages, supporting testimony, and schedules requesting changes to the Company’s permanent rates that are intended to yield an annual increase of $1,373,351 in permanent revenues to be effective February 1, 2021. In its filing, the Company also proposed that temporary rates established at the same level as currently effective rates also to be effective February 1, 2021, in recognition of the financial hardships caused by the COVID pandemic and out of a desire to address the issue of temporary rates efficiently. See December 18, 2020 Testimony of ▇▇▇▇▇ ▇. ▇▇▇▇▇, ▇▇▇▇▇ page 609, in Docket No. DW 20-184. As part of its proposal for temporary rates, the Company proposed that the current Water Infrastructure and Conservation Adjustment (“WICA”) surcharge be incorporated into base rates and that the WICA be reset to zero percent. On April 29, 2021, the Settling Parties held a technical session which evolved into settlement discussions, where consensus was reached as to the Company’s temporary rates. This settlement includes the Settling Parties recommendation as to temporary rates in this proceeding. In its filing, the Company referenced a test year revenue shortfall of $260,748. Staff agrees that the Company appears to be under-earning based on its review of the Company's 2019 Annual Report, as filed with the Commission. Staff and the parties agree that temporary rates set at current levels are advisable under the circumstances. Intervenors the Towns of Hampton and North Hampton agree that Aquarion’s Annual Report for the year ending December 31, 2019 shows that the Company earned less than its last- approved rate of return and do not object to the Settlement Agreement. However, the Settling Parties reserve all rights as to whether the Company in fact under-earned during the test year when t...
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INTRODUCTION AND PROCEDURAL BACKGROUND. This Settlement Agreement (“Agreement”) is entered into this 19th day of July, among Public Service Company of New Hampshire d/b/a Eversource Energy (“PSNH” or the “Company”), the Office of the Consumer Advocate (“OCA”), and the New Hampshire Department of Energy (“DOE” or “Department”) (collectively, the “Settling Parties”), to set temporary rates for the Company pursuant to RSA 378:27. On May 3, 2024, PSNH filed with the Commission its Notice of Intent to File Rate Schedules pursuant to N.H. Code Admin. Rule Puc 1604.05. On June 11, 2024, PSNH filed a petition for Permanent and Temporary Rates, proposed revised tariff pages, supporting testimony and attachments, and rate schedules requesting changes to the Company’s permanent rates that are intended to yield an annual increase of $181,898,881 in permanent distribution revenues to be effective August 1, 2025. The Company also proposed temporary rates intended to recover a revenue deficiency of $76,691,151. The Company’s requested permanent rate increase of $181,898,881 is inclusive of the originally proposed temporary rate increase of $76,691,151. Since the filing, the Company has received data requests from the OCA and DOE on a rolling basis. Additionally, on July 2, July 10, and July 15, 2024, the Company participated in technical sessions that evolved into settlement discussions, where consensus was reached among the Settling Parties as to the Company’s temporary rates effective August 1, 2024. This settlement includes the Settling Parties’ recommendation as to temporary rates in this proceeding.
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INTRODUCTION AND PROCEDURAL BACKGROUND. 1. On April 19, 2019, Alterna Capital Partners LLC (US), Asia Research & Capital Management Ltd. (HK), Contrarian Capital Management, LLC (US), CQS (UK) LLP for and on behalf of funds managed and or advised by it, GHL Investments Ltd. (Europe), and Ship Finance International Limited (UK Territory/Bermuda) (together, the “Applicants”) submitted to ICSID an application for leave to file a non-disputing party submission in this arbitration (the “Application”) pursuant to § 1.3 of Procedural Order No. 2 (“PO 2”) and § 4 of the Statement of the NAFTA Free Trade Commission on Non-Disputing Party Participation (the “Recommendations”). Along with the Application, the Applicants attached a proposed submission (the “Submission”). 2. On April 23, 2019, the Secretary of the Tribunal transmitted the Application and Proposed Submission to the Members of the Tribunal. 3. Following the instructions of the President of the Tribunal, on April 26, 2019, the Secretary of the Tribunal transmitted the Application and Submission to the Parties. In the same communication, the Parties were invited to submit comments on the Application by May 6, 2019, pursuant to § 1.3 and § 1.4 of PO 2 and Section B(5) of the Recommendations. 4. On April 26, 2019, Claimants indicated that “[i]t was procedurally improper for the Ad Hoc Group of Bondholders to attach their substantive submission along with their application to the Tribunal requesting leave to file that submission.” Claimants further requested that the Tribunal “not review the Bondholders’ substantive submission until the Tribunal issues a decision on their pending application.”1 5. On April 29, 2019, the Tribunal informed the Parties that it intended to consider the Application only, in addition to any comments thereon from the Parties. The Tribunal further stated that it would review the Submission only if it were admitted, in which case, pursuant to section 1.4 of Procedural Order No. 2 and section B(8) of the Recommendations, the Parties would be afforded an opportunity to comment on the Submission. 6. On May 3, 2019, ▇▇▇▇▇▇▇▇▇ submitted a request for an extension of the deadline to submit comments on the Application. 7. On the same date, the Tribunal invited Respondent to submit comments on Claimants’ communication by May 8, 2019. 1 Communication from Claimants to ICSID of April 26, 2019. 8. On May 6, 2019, Claimants resubmitted their request for an extension of the deadline to submit comments on the Application, along with an e...
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Related to INTRODUCTION AND PROCEDURAL BACKGROUND

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