ACT 12 "FAIR MARKET VALUE" REFORM
PUC Issues Final Supplemental Implementation Order:
Four revisions to Section 1329 of the Public Utility Code
PMAA and other stakeholders provided extensive feedback on the order which was adopted at the Commission’s June 13th meeting and published in the Pennsylvania Bulletin on July 20, 2024.
The revisions are designed to increase public involvement and ensure greater consistency in the process for reviewing and evaluating the acquisition and valuation of municipal or authority-owned water and wastewater systems under Section 1329.
New checklist for applications for Section 1329 acquisitions of water and wastewater systems include:
- Copies of the notification that will be sent by the buyer to affected customers showing clear, plain language information about rate impacts and a statement that any promise to freeze rates may be unenforceable.
- Verification that at lease two in-person public hearings were scheduled and conducted prior to executing an Asset Purchase Agreement.
Click here for the Final Supplemental Implementation Order
Click here for PMAA comments
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