5. Reporting Requirement

GO 24-B requires utilities to submit a monthly report to the Commission that contains, among other things: (i) the amount of debt issued by the utility during the previous month; (ii) the total amount of debt outstanding at the end of the prior month; (iii) the purposes for which the utility expended the proceeds realized from the issuance of debt during the prior month; and (iv) a monthly statement of the separate bank account that the utility is required to maintain for all receipts and disbursements of money obtained from the issuance of debt.

The Commission has granted utilities authority to report quarterly the information required by GO 24-B in order to reduce their administrative cost of complying with the GO and to conform to past practice.⁴ Park should be treated no differently. Park may report quarterly to the Commission the information required by GO 24-B.

⁴ See, for example, D.05-08-008 mimeo., p. 36, D.04-10-037 (2004) mimeo., p. 51; and, D.03-12-052 (2003) mimeo., pp. 11-12.