N.J. Admin. Code § 14:9-7.4

Current through Register Vol. 56, No. 11, June 3, 2024

Section 14:9-7.4 - Year-end true up schedule

(a) Once a purchased water adjustment clause has been in effect for one year, a utility shall submit a true up schedule to the Board. The true up schedule shall compare:

1. The actual cost of purchased water or of wastewater treatment for the previous year; and

2. The estimated costs of purchased water or of wastewater treatment for the previous year, upon which the PWAC or PSTAC for the previous year was based.

(b)The utility shall file the true up schedule within 45 days after the end of the year covered by the PWAC or PSTAC, regardless of whether the utility files a petition for approval of an adjustment of the PWAC or PSTAC for the following year.

(c) If the utility files a petition for approval of an adjustment of a PWAC or PSTAC for the following year, the utility may file the year-end true up schedule for its previous year's PWAC or PSTAC in conjunction with the utility's petition for the adjustment (see 14:9-7.6 ), or in conjunction with the filing of a base rate case.

(d) If the year-end true up schedule indicates that the utility recovered more under the PWAC or PSTAC than was necessary to reflect its cost of purchased water or wastewater treatment during the preceding year, the following shall apply:

1. The utility shall submit, as part of its true up schedule, a calculation of the interest for the year on the over recovery, in accordance with N.J.A.C. 14:3-13; and

2. Either or both of the following shall apply:

i. The Board may require an adjustment that will reduce the utility's revenue under its PWAC or PSTAC for the following year; and/or

ii. The Board may require that the utility provide a refund to customers. The Board may, in its discretion, require that refunds be provided through a bill credit, refund check, or other appropriate means.

(e) A utility that is required to provide a refund under this section shall certify to Board staff that the refund was provided, the date upon which it was provided, and the total amount of the refund.

N.J. Admin. Code § 14:9-7.4

New Rule, R.2006 d.367, effective 10/16/2006.
See: 38 N.J.R. 1538(a), 38 N.J.R. 4490(b).
Former N.J.A.C. 14:9-7.4, Petition for purchased water adjustment clauses; content; procedures, recodified to N.J.A.C. 14:9-7.6.