8. Category and Need for Hearings

Park requested that this matter be categorized as ratesetting. By Resolution ALJ 176-3217, dated July 10, 2008, the Commission preliminarily determined that this was a ratesetting proceeding and that a hearing would not be necessary. Notice of the application appeared in the Commission's Daily Calendar of July 10, 2008.

The DRA filed a limited protest of this application on August 11, 2008. DRA, recognizing that Park has a limited opportunity to pursue refinancing, did not oppose approval of the application. However, consistent with Park's proposal, DRA recommended that a review of the prudency of the bonds to be issued by Park should be undertaken as part of Park's scheduled May 2009 Cost of Capital Application. Hence, there is no opposition to the approval of this application. Based on the record, we affirm that this is a ratesetting proceeding, and that a hearing is not necessary.