The Pennsylvania Public Utility Commission (PUC) today, July 21, 2016, adopted a Tentative Implementation Order that addresses amendments to Chapter 13 of the Pennsylvania Public Utility Code (Code), which Governor Wolf signed into law April, as Act 12 of 2016. That legislation added a new section to the Code – Section 1329 – providing for significant changes in the way the PUC examines acquisitions of municipal and authority-owned water and wastewater systems by investor-owned utilities.
The PUC voted 4-0 to adopt tentative interim procedures and guidelines necessary to begin implementation of Section 1329, including a proposed timeline for adjudications. The PUC has also invited comments from interested parties regarding the tentative proposals, along with any additional recommendations. Comments are due within 20 days. We can assist with preparation and filing of comments.
Section 1329 is intended to address concerns about previous mechanisms for valuing municipal or authority-owned property, and provides a process to determine the fair market value of a municipal or authority-owned water or wastewater system that is acquired by a public utility.
To learn how Prince Law Offices, P.C. can assist you and your business with PUC matters and business acquisitions or sales, contact attorney Jeffrey A. Franklin at Prince Law Offices, P.C.