53 Pa. Stat. § 15566
In ascertaining, assessing, and determining the amount of compensation or damages to be paid by the city, the Public Service Commission may determine every fact, matter, or thing, which in its judgment does or may have any bearing on the fair amount of the compensation. The factors thus to be taken into account may, in the discretion of the Public Service Commission, include, among other things, the original cost of construction, with particular reference to the amount expended in existing and useful permanent improvements, with such consideration for the amount in market value of the owner's bonds and stocks, if the owner be a corporation, as to the Public Service Commission may seem just and fair; the probable earning capacity of the property, under particular rates prescribed by statute or ordinance, or other municipal contract or fixed or proposed by the Public Service Commission; and for the items of expenditures for obsolete equipment and construction as the circumstances and historical development of the properties may warrant. The reproduction cost of the property, based upon the fair average price of materials, property and labor, and the development and going-concern value of such properties, facilities, and franchises, any element of delay under these proceedings, and other elements of value, shall be given such weight by the commission as may in its judgment be just and right in each case, as in other matters involving the valuation of properties and facilities devoted to the public service and coming before the said Public Service Commission for determination. The determination of the Public Service Commission shall award compensation or damages to each owner separately; and, in case any owner is also the lessee of the properties, facilities, and franchises of any other company whose properties, facilities, or franchises are acquired or to be acquired hereunder, the total amount awarded with respect thereto shall be apportioned between the owner or owners of such properties, facilities, and franchises and any person or persons, company or companies, having an interest therein by virtue of any such lease or series of leases; the purpose of this provision being that the gross amount of damages or compensation, ascertained and determined as hereinabove provided, shall be distributed among those rightfully entitled thereto in such manner as may be just and equitable having in view their respective interests therein. Should the condemnation be free from any or all bonds, obligations, or other liabilities, liens, and encumbrances, the award to any individual or company, whose property is subject thereto, shall include a sum or sums sufficient to satisfy the same, and the award to such company or individual in such case shall be made subject to the rights of those entitled under any such bonds, obligations, or other liabilities, liens, and encumbrances: Provided, That in no case shall the amount awarded to any company be less than the amount paid into the treasury of such company by its stockholders and invested in the acquisition or development of its property and franchises taken and appropriated. In case the properties, facilities, and franchises of the operating company are not taken and condemned in any proceeding under this act, the award shall not include any interest which the said operating company may have in any of the condemned properties, facilities, and franchises represented by any lease, operating agreement, assignment, or other contract, which interest shall continue as theretofore; but, in case it is a stockholder or creditor either in its own right or as lessee of any company whose properties, facilities, and franchises are taken and condemned under said proceedings, and such stock or credit is pledged to secure an issue or issues of bonds, then there shall be a proper and equitable adjustment in the award to meet these conditions.
53 P.S. § 15566