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Companies or organizations that are required to make adjustments to their prior year's Payroll, General, and Administrative expenses (PGA) based on new information or changes
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Rev 1 PGA True-Up refers to a reconciliation process used by public utilities to adjust their gas cost recovery charges. It ensures that the revenue collected matches the actual costs incurred for purchasing gas.
Utilities that operate under the Purchased Gas Adjustment (PGA) mechanism are required to file Rev 1 PGA True-Up.
To fill out the Rev 1 PGA True-Up, utilities must gather data on gas costs, sales, and previous over or under recoveries, and then complete the required forms provided by the regulatory body, ensuring all calculations are accurate.
The purpose of Rev 1 PGA True-Up is to ensure the fairness and accuracy of gas pricing for consumers, allowing for adjustments based on actual costs incurred by utilities.
Utilities must report their total gas costs, sales volumes, previous PGA adjustments, and any discrepancies between collected revenues and actual costs on the Rev 1 PGA True-Up.
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