CASE NO. 20-1049-E-P
MONONGAHELA POWER COMPANY and
THE POTOMAC EDISON COMPANY
Petition to address the effect of the 2017 Tax Cuts and
Jobs Act on Accumulated Deferred Income Taxes
NOTICE OF FILING AND HEARING
On December 30, 2020, Monongahela Power Company
(Mon Power) and the Potomac Edison Company (PE)
(collectively Companies) filed a Petition to determine the
Companies’ net excess accumulated deferred income
taxes (ADIT) due to the Tax Cuts and Jobs Act of 2017
(TCJA) (Petition). According to the Companies, there
are combined property-related excess and deficient
ADIT balances of approximately $286.8 million and
combined non-property excess and deficient ADIT
balances of approximately $28.7 million. The
Companies are proposing rate treatment for net excess
and deficient ADIT, over a proposed 10-year
amortization period, to be reflected in the Companies’
next Expanded Net Energy Cost (ENEC) rates. The
Companies also propose to apply net excess ADIT
accrued from 2018 through 2021 as an offset to C
VID-19 related expenses.
The Petition is on file with and available for public
inspection at the Commission, 201 Brooks Street, in
Charleston, West Virginia, and is available online at th
Commission website (www.psc.state.wv.us).
The Commission schedules this matter for evidentiary
hearing to be held on August 18, 2021, at 9:30 a.m. and
continuing on August 19, 2021 if necessary at its offices
at 201 Brooks St., Charleston, West Virginia. Because
of the COVID-19 pandemic, the Commission will not
take in-person public comment at the hearing and will
consider written comments and protests. The
Commission may determine, in light of the COVID-19
situation, that the scheduled hearing will be conducted
virtually, with the parties to the case appearing online.
Interested persons should be able to view the
evidentiary hearing via an internet livestream. The
Commission website, www.psc.state.wv.us, contains
links to “Case Information,” “Submit a Comment,” and
“Commission Webcast.”
Anyone desiring to intervene should file a written
petition to intervene no later than 4:00 p.m., May 14,
2021. Failure to timely intervene may affect your right to
participate in the proceeding. All requests to intervene
should briefly state the reason for the request to
intervene and comply with the rules on intervention set
forth in the Commission’s Rules of Practice
and Procedure. The Commission will receive public
comments and protests until the beginning of the
hearing.
All written comments, protests and requests to
intervene should state the case name and number
and be addressed to Connie Graley, Executive
Secretary, P.O. Box 812, Charleston, West Virginia
25323. Public comments may also be filed online at
http://www.psc.state.wv.us/scripts/onlinecomments/defa
ult.cfm by clicking the “Formal Case” link.
MONONGAHELA POWER COMPANY AND
THE POTOMAC EDISON COMPANY
First Energy
WC 4/21 14857