267757 WHITE - CITV CLERK COIIIlC1I ������
PINK - FINANCE TY OF SAINT PAITL
CANARV - DEPARTMENT �
BLUE - MAVOR File NO.
' ci Resolution
� �
:
Presented By
Referred To Committee: Date
Out of Committee By Date
RESOLVED� That the Council of the City of Saint Paul,
in. the Matter of the Petition of Nothern Statea Power
Company (Minnesota) Steam Utility within the City of
Saint Paul , for an increase in its steam rates, filed
January 9, 1976, hereby adopts as this Council ' s deter-
mination in said matter, the Findings of Fact and Conclusions
of Law promulgated by the City' s Rate Expert, Thomas J.
Stearns , and recommended to be approved by the Utilities
Committee , a copy of whieh findings and conclusions is
attached hereto as Exhibit A and incorporated herein; an.d
be it
FURTHER RESOLVED� That, pursuant to said Findings of
Fact and Cor�clusions of Law, the Steam Franchise Ordinance
Number 15'742, approved December 2, 1974, be amended to
prescribe that Northern States Power Company be entitle d
to an increase in revenues of 23 percent above the 1975
test year revenues from steam service in the City of
Saint Paul an.d the reasonable rates which would provide
such revenue over and above that of the test year of
1975 for said company to commence taking effect, as the
Ordinanee so provides , as amended; and be it
FURTHER RESOLVED, That the City Clerk is directed
forthwith to transmit three copies of the aforesaid
Findings o� Fact and Conclusions of Law to designated
representatives of the Northerra. Statea Power Company.
COUNCILMEN R�quested by Department of:
Yeas ' Nays
Butler
Hozza � In Favor
Hunt
Levine �_ Against BY
Rcedler
Sylvester
Tedesco
Adopted by ncil: Date AUG 2 4 1976 Form Appro y tomey
Certif� Pass y Cou il Secretary� BY
5 �
Appro y IVlayor: D �s 2 T t97B Approved by Mayor for Submission to Council
By BY
PlIBCtsHEO S E P 4 1976
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RECOMMENDED FINDINGS OF FACTS AND CONCLUSIONS OF LAW
� Upon the answers to the Information Requests, and otYier respons ible �
data attached, Thomas J. Stearns makes the following :
x �;
�'
d.,
FINDINGS OF FACT
1: That the Saint Paul Steam Plant is a wholly owned steam
��'
operation of the Northern States Power Company. which conduets
its steam business within the City of Saint Paul by virtue '
of a franchise issued to it by the City Council.
�
.
2. That_ such franchise, in effect during 1975, �allowed for the
adjustment of' steam rates by petition pursuant to Section 7
thereof. .
. 3. That on January 9, 1976, the Northern States Power Company
di.d petition the Council of the City of Saint Paul to -
prescribe new and reasonable rates whicY� would increase its �
revenue about $730,000 per year based on Z976 projected
, �,
sales producing a rate of return of approximately 8. 5� on a
' projected net rate base of $3, 540,205.
l.
. ,,. , .
4. That the franchise further prescribed in Section 16 thereof:
"The Company' s obligation to provide service
� shall be limited to serving steam at existing
premises receiving such service and reasonable
expansions thereo�, provided that such service
can be rendered with steam production facilities
presently operatecl by the Company. Other
premises located on steam mains may be served
pursuant to rules and regulations of the Company
which protect service to existing premises and
, reasonaI�le expansions thereof. "
5. That the pertinent rules and regulations of Northern States
Power Company in effect during 1975 did provide in cannection
with the expansion of steam services within the City of Saint
Paul as follows :
"The Company will, at its own expense, extend,
enlarge, or change its distribution �or other
facilities for supplying steam service when
the anticipated revenue from the sale of
aclditional service to result therefrom is
such as to justify the expenditure. When the
expenditure is not so justified, the extension,
enlargement, or change of facilities may
nevertheless be made by (1) payment by
customer to Company of the portion of the
capital expenditure not justified by the
annual revenue ,<:(with or without provision for
refund of all or part of such payment) , or
(2) a guarantee by customer to pay annually
to Company a specified minimum charge or
service connection charge, or (3) a combination
of both methods. " °
2 .
� V � . ' . � � � . .
6. That the Saint Paul steam operation employs 16 employee�
and services a total of 131 customers at the peak of the
heating season.
7. That the year of 1975 is a proper test year for a rate
regulation determination.
8. That the Operating Revenue of $1,772, 722 for 1975 is the
proper amount of operating revenue for rate setting
purposes. .
9. That the January filing by the Northern States Power
Company included one month in 1975 (December) of
estimated revenue and expenses which have been adjusted
now to make total actual revenue $1, 772 , 722 and operating
expenses $1, 924,845, with the individual adjustments in
actual revenue and expenses as shown on Attachment A,
Pa9e 1-
10. That the administrative and general expenses of $141,662
include allocated expenses using an allocation factor based j
on average of 1974 plant investment and 1974 revenues
with respect to the total plant ( .0030) and with resnect
to the Saint Paul Division (.0125) .
3.
11. That, in view of the size of the steam operation, the
: proper allocation factor for such casts should be based
on company or division customers, or l31 divided by
1,214,364, equalling .000108 for the Company and .00Q4
for the Division; the cost of the allocated adminis-
trative and general expenses thereby considerea as a
proper operating expense for rate setting purposes
should be $13, 919.Z3 allocated administrative and
general expenses. "
12. That, in addition to allocated administrative and �
general expenses, there are certain administrative
,
and general expenses directly charged to the steam
utility operation from other departments of the •
r
Northern States �Power Company of $66, 358.87 plus
$15,000.00 regula�ory expense, making the total
administrative and general expenses for rate
setting purposes $95,278.00.
13. That net plant in service should have deducted from it
contributions in aid of construction which total in 1975
. �
�
an amount of $8,450, leaving net operating investment
4.
at $3, 517, 864.00.
14. That a proper rate of return on the net operating in-
vestment of the steam plant is 6.2/, in consideration of
the lack of expansion and the require�ent that customers
provide the capital for extension of its lines or, through
purchasing steam, the funds for such extension.
15. That the rate of return of 6.2/ applied to the net opera-
ting investment of $3, 517, 864.00 provides a fair and
reasonable return to be $218, 108.00 or an additional •
� amount of net revenue of $323,847.00 over the revenue
�
actually received in 1975.
16. That the increas.e in revenue to provide a fair and
reasonable return to the net operating investment will
occasion an increase in the Federal and State Income
taxes of $57, 956.00.
l�. That, in addition to the $57, 956.00 of income taxes, the
annual franchise fee of 8.7% levied by the City on such
?..
additional revenue of $381,803� is $33, 199.00, making the
' total increase to which the Company is entitled $4�.5,002.00.
5.
. � . �
18. That such allowable increase of $415,002 .00 amounts to a
further increase over the interim rates now in effect to
an extent of $19,002 on an annual basis or an average of
$145.05 per customer per year.
19. That such increase amounts to 23/ over the revenue actually
received in 1975, and �rates for 1976 and thereaftar shall
be designed to allow for such additional revenue based
on the test year of 1975. :
20. That the Company shall commence the collection of the
additional rates upon the effective date of the ordinance
approving of the same.
CONCLUSIONS OF LAW
l. That the year 1975 is the appropriate test year in this
proceeding.
2. That the net operating investment of the utility plant
used and useful in conducting its steam operations in o-
, 5aint Paul on December 31, 1975, as calculated on the
6. -
basis of historical cost depreciated method, was not less
than $3, 517,864.00.
3. That the net operating income (loss) of the Company from
its steam operation i.n the City of Saint Paul in 1975
was - $105,739.
4. That an increase in revenues of $415,002 over the revenues
of $1, 772, 722 received from the steam service, or 23�
above the revenues of the test year of 1975, is a fair
and reasonable amount of increase for the steam operation.
5. That such increase will provide a 6.2% rate of return on
the net operating investment of $3, 517,864.00 as of year-
end 1975. �
6. That such a return of 6.2/ is fair and reasonable, con-
sidering the static nature of the investment and the
source of expansion capital.
7. That the increase hereby recommended shall be made as the
�.
, effective date of the ordinance changing the rates.
7.
On the basis of the foregoing Findings of Fact and
Conclusions of Law, the undersigned Rate Expert recommends
that the City Council grant an increase in rates to provide
a 23/ increase in test year revenues from the steam opera-
tion of the Northern States Power Company in the City af
Saint Paul, and Company shall design rate schedules to be
included in the amendment of its franchise to provide such
a return.
Dated: July 2, 1976 �
__-�-----.-�--_
.
TEiOMAS EARNS
Utilitie ate Expert
647 City Hall and Court House
Saint Paul, Minnesota 55102
612 298-5121
�
8.
OP INION
On January 9, 1976 the Northern States Power Company filed an
application for the increase of its rates for the steam opera-
tion within the City of Saint Paul. It requested additional
revenue of $730,000 per year based upon projected sales in 1976.
It stated that such an increase would produce a rate of return
of approximately 8. 5/ on a projected net rate base of $3, 540,205.00.
This would amount to a 36/ 'increase over anticipated 1976 revenue �
from the customers in the City of Saint Paul. However, if taken
with respect to actual revenue in 1975, it would approximate
41% over what was actually received from its customers.
Past filings within the City show that Northern States Power
Company has made requests with respect to the historical test
years from 1966 to date of 41% in 1966, 30% in 1973, 40/ in 1974,
and 41/ in 1976. Such filings were based upon a stated rate of
return of .48/ in 1966, 2 .08/ in 1973, 5/ in 1974, and 8.5/ in
1976.
Although the latest request is calculated with respect to a '
projected test year, in all its prior� rate determinations, the ,
City of Saint Paul has deemed a historical test year to be
9. •
.. � .
proper. The reason for that determination has been that
factual rather than speculative data can be provided through
such a method, and with the minimal expansion of the investment
and changes in costs, attrition can be controlled by the
selection of a year-end approach to rate regulation. On
February 9, 1976 the City Council of the City of Saint Paul
allowed the Company interim rates calculated by the Company at
a rate of return of 4.2/ on its investment under the filing.
On an annual basis, they accounted for $396,000 of additional
revenue, or an increase of 22/ over 1975 revenues.
Because of the complicated cost calculations by the Company, it
is appropriate that the burden of proof with respect to its �
application, for rate increases be placed upon it. Such burden
applies not only to the total amount of increase but also to
the various costs which the Company contends were incurred by the
steam operation. The burden of proof concept is in line with
prevalent legal authority. See: 73 CJS Public Utilities s26,
p. 1048:
"Increase in rates. In accordance with the
rules hereinbefore stated, the burden of
proving the reasonableness of a proposed �
increase in rates is on the utility, ?
10.
where the existing rate is one fixed by
public authority . . . °
In accord: 64 Am Jur 2d Public Utilities s127, pp 653-654.
The Rule is repeated in City of Fort Smith vs Southwestern
Bell Tel. Co. , Ark , 247 SW 2d 474, 485:
" (16, 17) When a utility seeks an
increase of existing rates, the burden
is, of course on the utility not only
to offer all evidence to justify such in-
crease, but also to comply with all
reasonable requests of the Commission for
full disclosures. " -
The reason for placing the burden of proof upon a party
requesting a change in rates is explained in Dessommes vs
Dessommes, Tex CA , 505 SW 2d 673 where the court
recognized that the party in particular control of the in-
formation to support its request is required to sustain the
proof of the facts which it has available (SW 2d 679) :
"The burden of proof is not necessarily
determined by which party happens to be
in the position of plaintiff. It may rest
on broad considerations of fairness, con-
venience and policy . . . One of the
recoqnized principles in determining the
burden is to place it on the party having
peculiar knowledge of the facts to be �
rp oved . . . °
(Underlining added)
0
11.
I
RATE BASE
In its filing of January 9, 1976 Northern States Power Company
.
provided information regarding net operating investment as of
year-end 1975 and average year 1976. I recommend using year-
end 1975 for plant in service' with an adjustment made for con-
tributions in aid of construction. This places the amount
of plant or net investment at $3, 517,864.00. The explanation
of the calculation of plant in service is found on Attachment
A (Page 3 of 3) hereto. _
II
TEST YEAR
When a Company files ori the basis of a projected year (the
average year 1976) all the costs and computation of revenues
are estimates. On �the other hand, a filing on the grouncls ot �
actual data (the year-end 1975) can be related directly to
actual computations. The value of this method of calculatian
has been expressed by Chief Justice Robert J. Sheran ancl
Leonard Lindquist in prior hearings. With actual data, there ,.
� is no speculation involved, and adjustments can be made for any
extraordinary occurrences during the year' s experience. The
12.
. 'ti �
problem with estimated data for a full year is demonstrated in
this case with what the Company described as I975 historical
data. When corrected, the revenue in the filing was $862.00
off, and operating expenses $31,685.00 off, because the
original information included one month (December, 1975� of
estimated calculations. (See: Attachment A, page 1 of 3) If
the Company cannot estimate accurately for one month, it is
difficult to see how it can do so for a full year. Under the
circumstances, I am continuing to recommend a 1975 test year
as a proper one.
III
OPERATING EXPENSES
The Company views the operating costs of the steam plant in
three different ways. First, there is a calculation based
upon actual cost of operation at the plant itself. Second,
there is a calculation based upon allocated portions of
common expenses, and third, there is a calculation based upon
costs charged to the plant by other departments of the Company.
o.
The calculation of direct charges appears in the production
, costs, the distribution costs, and in administrative and
13.
.. .
general costs. The Company advised me that time sheets were
kept and cost data was maintained on computers. The labor
cost totalled $66, 326.00 in the production area, consisting
of the compensation of certain employees, who were physically
transferred from the Highbridge Plant to the steam plant and
others devoting their time to specific tasks for the plant.
In the distribution area, the plant had one crew for
maintenance of the steam mains. When further work was re-
quired, crews from the natural gas department were assigned
to the steam operation, and their costs were, once more, ' �
treated as direct charges to it.
For administrative and general costs, the Company included
amounts trom not only direct charges but also allocated charges
of common (gas and electric) costs. As corrected, they came
to $141,662. In calculating the allocated costs, the Company .
used an allocation factor based on average 1974 steam plant
investment and 1974 steam revenues, as compared with total
C�mpany plant investment and total revenues. The Company' s �
method resulted in an allocation factor of .0030 with respect
�
i
to total plant costs, and .0125 with respect to common St.
14.
Paul Division costs. I used a different fac�or for allocated
costs. Following the procedure the City has adopted in past
rate determinations, I developed factors based on comparative
custamers rather than the plant investments and total revenues.
This method gave me an allocation factor of .000108 for
Company administrative and general common costs. For Division
administrative and general common costs, it was .0004.
I support my method over the original company method, because �
I believe that, in aclministrative and general costs, the
emphasis shoula be on the relative strain the small steam
business places upon the total administration burden of running
the company. As defined in the Federal Power Commission' s
Uniform System of Accounts, these costs include the following
(Section 6, Subd. 920, pp 101-96 to 101-100)
Aaministrative and General Salaries
Office Supplies and Expenses
Administrative Expenses Transferred - Credit
Outside Services Employed
Property Insurance
Injuries and Damages °
,
IInployee Pensions and Benefits
Franchise Requirements
15.
. , , .
Regulatory Commission Expenses
Duplicate Charges - Credit
Miscellaneous general (Management) Expenses
Rents
Maintenance of General Plant
Using my factors, the part of the above costs that were common
and had to be allocated came to $13, 919.13. With the part that
was direct, the total of all these costs equalled $95, 381.13
instead of the $141,662 the Company adopted. •
IV
THE RATE OF RETURN
A rate of return on the net utility investment rate base is
frequently related to the corporate capital structure of the
Company. Ordinarily, the capital structure is composed of
three forms of costs; those of long term bonds, preferred
stock, and common stock. The bonds and preferred stock have
a fix�d annual cost. The common stock has no guaranteed income,
but is controlled in regulated industries by the underlying
. �.
precepts expounded by the Minnesota Supreme Court in Re
Northwestern Bell Telephone Comvany, Minn , 216 NW 2d
16.
, ; ,
841, 846, 4 PUR. 4th 47, 50r
"The process by which rates are fixed is,
first, to determine the value of the .
company' s property represented by the
equity of its stockholders; second, to
establish a fair rate of return which
- will provide earnings to investors
comparable to those realized in other
businesses which are attended by simi-
• lar risks, will allow the company to�
attract new capital as required, and
will maintain the company' s financial �
integrity; and, third, to compute
corporate taxes, depreciation reserves, .
and other expenses of operating the �
company. The rates charged sub-
scribers are thereupon authorized in
an amount which will equal the sum of �
the return to investors and the
company' s operating expenses. "
An annual cost of capital is determined by taking the senior
capital interest or dividend rate and multiplying it by the
percentage amount that such capital represents of the total
capital issued by the Company. Common equity, representing
a form of risk capital, tfi�.en earns the type of return that
fulfills the dictates of the rate setting process described
by the Minnesota Supreme Court in the Northwestern Bell
Telephone case above. The Company requested a rate of return
�
on the rate base comparable to that obtained from the Minnesota
� Public Service Commission for its electrical operation. This
T�7.
. r
� ` �
was 8. 5/. I received no other reason for such a high rate of
return.
The steam operation is a wholly owned operation of the Northern
States Power Company. There was no way to compare it with othex
wholly owned operations. There was no capital structure
indigenous to it. In view of the fact that there is no risk
to the Company in this small operation and no commitment by the
Company to provide service to all the customers in St. Paul
who request it, I do not think that the risks and uncertainties �
are properly comparable to those of the electrical operation.
At the same time, I observed that 6/ - 6.5% seems to be the
amount of interest that certificates of deposits receive from
the local banks and the amount that treasury notes and bonds
bear. See: Exhib its 10 and 11 attached. Accordingly, I
recommend the allowance of a 6.2/ rate of return for the Company.
In view of the fact that no customers can require an extension
of the system to provide steam in his area, I do not believe
the Company has borne the burden of proving it should have a
higher rate of return at this time.
�.
�
, 18.
-• . -
V
CONCLUSION
The recommended findings of fact and conclusions of law that
are attached propose a 1975 test year, an adjustment in
allocated administrative and general expenses, and a deduction
from the rate base of $8,450.00 for contri.butions in aid of
construction. With such adjustments and a 6.2% rate of return,
it appears that additional revenue of $415,002 over the revenue
of 1975 is in order. That increase� assumes the same number
of customers as there were in September of 1975 (F�thibit 1.3) .
and includes a calculated Federal and State Income Tax as well
as a f�anchise fee of 8.7/ upon the actual revenues received.
The interim rates, which took effect on February 9, 1976,
were calculated on a projected income anci return to the in-
vestment for the year 1976. The final rate increase comes to
23/ over the 1975 revenues instead of the 22/ incorporated -
into the interim rates.
�
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