6. Fee
Whenever the Commission authorizes a utility to issue debt and Preferred Stock, the Commission is required to charge and collect a fee pursuant to
Pub. Util. Code §§ 1904(b) and 1904.1. In the case of Southwest, since only part of its operations are in California, the Commission requires it to pay a fee on the portion of securities authorized in a particular Decision that are attributable to California.15 This portion is determined by applying the ratio of California operating revenues as a percent of total company revenues to the total securities authorized in a particular Decision.
The fee is calculated as follows:
Table 2
Calculation of Fee
Row |
Description |
Amount |
a |
Total Southwest Operating Revenues |
$1,614,843,000 |
b |
California Operating Revenues for Southwest |
$158,880,000 |
c |
California Operating Revenues as a Percent of Total ($158,880,000/$1,614,843,000) |
9.839% |
d |
Percent of Operating Revenues * Requested Financing Authority ($200,000,000 * 9.839%) |
$19,677,455 |
Calculation of Fee: |
||
e |
$2 * ($1,000,000/1,000) |
$2,000.00 |
f |
$1 * ($9,000,000/1,000) |
$9,000.00 |
g |
$0.50 * (9,677,455/1,000) |
$4,838.73 |
Total Fee (e + f + g) |
$15,838.73 |
Since Southwest has already paid the required fee of $15,838.73, the authority granted by this order will become effective as of the date of this Decision.
15 See D.07-09-007 at 26-27; D.05-02-049 at 27; and D.88-12-010 at 2 and 8-9.
