Report on results of audit related to charges for wholesale electric service by Virginia Electric and Power Company under the fuel-adjustment clause filed with the Federal Power Commission

Book · Thu Jan 01 04:00:00 EST 1976

OSTI ID:6435595

The audit shows that during the period January 1, 1973 through May 31, 1975, charges to customers for wholesale electric service by VEPCO under the provisions of the FPC fuel adjustment clause were proper, except for: (1) overbillings related to the inclusion in Account 151, Fuel stock, the cost of transshipping coal for which corrective action was initiated by VEPCO prior to the audit; and (2) the propriety of treatment of certain costs of storage, transportation, and handling oil after delivery at deep-water-port or other storage facilities, with respect to which the staff is reserving a conclusion. The staff concluded that procurement policies and procedures underlying fossil fuel costs were adequate to insure fuel costs were prudently incurred.

• OSTI ID: 6435595
• Report Number(s): NP-23169
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
296000* -- Energy Planning & Policy-- Electric Power
ACCOUNTING
CENTRAL REGION
CHARGES
COMPLIANCE
CONSUMER PROTECTION
COST
ELECTRIC POWER
ELECTRIC UTILITIES
FUEL ADJUSTMENT MECHANISMS
MANAGEMENT
NORTH AMERICA
POWER
POWER GENERATION
PUBLIC UTILITIES
RATE STRUCTURE
REGULATIONS
USA
VIRGINIA