Press Release

HARRISBURG, Pa. - Consumers and reporters can now review on the Internet detailed financial records submitted by Pennsylvania’s utility companies to the Public Utility Commission (PUC). The PUC has updated its website to include reports on utility companies’ quarterly earnings, telecommunication companies’ annual financial reports, and links to the Federal Energy Regulatory Commission’s (FERC) Electric Annual Reports. The Pennsylvania PUC 1999-2000 Annual Report can also be found on the website.

The reports can be accessed by selecting Utility Types from the main page and then selecting Electricity, Natural Gas, Water or Telecommunications. The PUC Annual Report is found by selecting Consumer Services and then PUC Reports.

The Quarterly Earnings Report allows utility companies that operate in Pennsylvania to electronically report their earnings to the PUC on a quarterly basis. The report details financial information, summarizes and explains rate base and income statement adjustments, calculates the return on common equity, and itemizes debt ratios. The reports are listed for electric, telephone, gas and water utilities in two categories: companies with annual revenues over $10 million and those with annual revenues between $1 million and $10 million. The website is current with the reports through the second quarter of 2000.

The Telecommunications Annual Reports summarize a telecommunication corporation’s financial and accounting data, and lists the board of directors, principal officers, corporations controlled by the respondent and the important changes that occurred during the year. The reports are listed for all telecommunication corporations operating in Pennsylvania in two categories: Class A and Class B. Class A includes companies with annual revenues over $100 million and Class B companies have annual revenues less than $100 million. The years 1998 and 1999 are currently available.

FERC’s 1999 Form 1-Electric Utility Annual Report is also accessible through the PUC’s website. Over 200 electric companies have submitted annual reports to FERC. The reports include details of an electric company’s financial statements, properties, common and preferred stocks, income taxes, operating revenues and expenses, and generation plant statistics. The report also shows who serves as the company’s officers, directors, and security holders.

The Pennsylvania PUC 1999-2000 Annual Report provides highlights from each bureau, an overview of the ratemaking process, budget summaries, an organizational chart and a telephone directory.