Section 4909.042
(A) With respect to an electric light company that chooses to file a forecasted test period under section 4909.18 of the Revised Code, the public utilities commission shall prescribe the form and details of the valuation report of the property of the utility. Such report shall include all the kinds and classes of property, with the value of each, owned, held, or projected to be owned or held during the test period, by the utility for the service and convenience of the public.
(B) Such report shall contain the following facts in detail:
(1) The original cost of each parcel of land owned in fee and projected to be owned in fee and in use during the test period, determined by the commission; and also a statement of the conditions of acquisition, whether by direct purchase, by donation, by exercise of the power of eminent domain, or otherwise;
(2) The actual acquisition cost, not including periodic rental fees, of rights-of-way, trailways, or other land rights projected to be held during the test period, by virtue of easements, leases, or other forms of grants of rights as to usage;
(3) The original cost of all other kinds and classes of property projected to be used and useful during the test period, in the rendition of service to the public. Such original costs of property, other than land owned in fee, shall be the cost, as determined to be reasonable by the commission, to the person that first dedicated or dedicates the property to the public use and shall be set forth in property accounts and subaccounts as prescribed by the commission;
(4) The cost of property constituting all or part of a project projected to be leased to or used by the utility during the test period, under Chapter 165., 3706., 6121., or 6123. of the Revised Code and not included under division (B)(3) of this section exclusive of any interest directly or indirectly paid by the utility with respect thereto whether or not capitalized;
(5) In the discretion of the commission, the cost to a utility, in an amount determined to be reasonable by the commission, of property constituting all or part of a project projected to be leased to the utility during the test period, under a lease purchase agreement or a leaseback and not included under division (B)(3) of this section exclusive of any interest directly or indirectly paid by the utility with respect thereto whether or not capitalized;
(6) The proper and adequate reserve for depreciation, as determined to be reasonable by the commission;
(7) Any sums of money or property that the utility is projected to receive during the test period, as total or partial defrayal of the cost of its property;
(8) The valuation of the property of the utility, which shall be the sum of the amounts contained in the report pursuant to divisions (B)(1) to (5) of this section, less the sum of the amounts contained in the report pursuant to divisions (B)(6) and (7) of this section.
(C) The report shall show separately the property projected to be used and useful to or held by the utility during the test period, and such other items as the commission considers proper. The commission may require an additional report showing the extent to which the property is projected to be used and useful during the test period. Such reports shall be filed in the office of the commission for the information of the governor and the general assembly.
(D) Any financial information required to be submitted by an electric light company under this section shall be provided from the company's full books. The commission shall ensure appropriate protections against the disclosure of the company's trade secrets or proprietary information.
Last updated May 22, 2025 at 12:32 PM
Available Versions of this Section
- August 14, 2025 – Enacted by House Bill 15 - 136th General Assembly [ View August 14, 2025 Version ]