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Exhibit No.: Issue: Witness: Type of Exhibit: Sponsoring Party: Case No.: Date Testimony Prepared:Revenue Requirement Greg R. Meyer Direct Testimony IEC WR20170285 November 30, 2017BEFORE THE PUBLIC
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General rate increase refers to a regulatory process through which a utility company seeks to raise its rates based on increased costs of providing service, investment in infrastructure, and the need to ensure financial stability.
Utility companies, including electric, gas, water, and telecommunications providers, are required to file a general rate increase when they believe that their current rates are insufficient to cover the costs of maintaining and providing services.
To fill out a general rate increase, a utility must complete forms provided by the regulatory authority, detailing their financial performance, cost structures, proposed rate changes, justifications for the increase, and any supporting documentation.
The purpose of a general rate increase is to enable utility companies to cover rising operational and maintenance costs, ensure adequate service levels, invest in infrastructure improvements, and maintain financial health.
The information that must be reported includes financial statements, cost of service studies, customer rate impact analyses, the justification for the rate increase, and details on investments and expenditures.
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