Download - DEPRECIATION RATE STUDY AT DECEMBER 31, 2007
Exhibit A-1 (DAW-1)
CONSUMERS ENERGY COMPANY NATURAL GAS OPERATIONS
DEPRECIATION RATE STUDY
AT DECEMBER 31, 2007
http://www.utilityalliance.com
CONSUMERS ENERGY COMPANY
NATURAL GAS OPERATIONS
DEPRECIATION RATE STUDY
AT DECEMBER 31, 2007
Table of Contents
PURPOSE ............................................................................................................ 1 STUDY RESULTS................................................................................................ 2 GENERAL DISCUSSION..................................................................................... 3
Definition ......................................................................................................... 3 Basis of Depreciation Estimates ................................................................... 3 Survivor Curves .............................................................................................. 4 Actuarial Analysis ........................................................................................... 6 Judgment......................................................................................................... 7 Average Life Group Depreciation .................................................................. 8 Theoretical Depreciation Reserve ................................................................. 9
DETAILED DISCUSSION .................................................................................. 10 Depreciation Study Process ........................................................................ 10 Depreciation Rate Calculation ..................................................................... 13 Remaining Life Calculation .......................................................................... 13 Life Analysis.................................................................................................. 14 Salvage Analysis........................................................................................... 55
Appendix A – Depreciation Rate Calculations ............................................... 93 Appendix B – Depreciation Expense Comparison ………………………........95 Appendix C – Depreciation Parameter Comparison...................................... 97
1
PURPOSE
The purpose of this study is to develop depreciation rates for the depreciable
property as recorded on Consumers Energy’s books at December 31, 2007. The
account based depreciation rates were designed to recover the total remaining
undepreciated investment, adjusted for net salvage, over the remaining life of
Consumers Energy’s property on a straight-line basis. Non-depreciable property
and property which is amortized such as intangible software were excluded from this
study.
Consumers Energy provides local gas distribution service to 1.7 million
customers in Michigan. Consumers Energy owns transmission mains, distribution
mains, underground storage and various other plant assets. Consumers Energy’s
assets consist of a complex system of high and intermediate pressure transmission,
underground storage, and intermediate and low pressure distribution networks
located across the service area. There are a number of receipt points or city gates,
throughout the system where gas is delivered by the transmission system. Once
gas is delivered to the city gate, the pressure is reduced through regulators in order
to meet system requirements as determined by pressure and volume needs. Then
gas is delivered to customers for burner tip consumption.
3
GENERAL DISCUSSION
Definition
The term "depreciation" as used in this study is considered in the accounting
sense, that is, a system of accounting that distributes the cost of assets, less net
salvage (if any), over the estimated useful life of the assets in a systematic and
rational manner. It is a process of allocation, not valuation. This expense is
systematically allocated to accounting periods over the life of the properties. The
amount allocated to any one accounting period does not necessarily represent the
loss or decrease in value that will occur during that particular period. The Company
accrues depreciation on the basis of the original cost of all depreciable property
included in each functional property group. On retirement the full cost of
depreciable property, less the net salvage value, is charged to the depreciation
reserve.
Basis of Depreciation Estimates
The straight-line, broad (average) life group, remaining-life depreciation
system was employed to calculate annual and accrued depreciation in this study. In
this system, the annual depreciation expense for each group is computed by dividing
the original cost of the asset less allocated depreciation reserve less estimated net
salvage by its respective average life group remaining life. The resulting annual
accrual amounts of all depreciable property within a function were accumulated, and
the total was divided by the original cost of all functional depreciable property to
determine the depreciation rate. The calculated remaining lives and annual
depreciation accrual rates were based on attained ages of plant in service and the
estimated service life and salvage characteristics of each depreciable group. The
computations of the annual depreciation rates are shown in Appendix A.
Actuarial analysis was used with each account within a function where
sufficient data was available, and judgment was used to some degree on all
accounts.
4
Survivor Curves
To fully understand depreciation projections in a regulated utility setting, there
must be a basic understanding of survivor curves. Individual property units within a
group do not normally have identical lives or investment amounts. The average life
of a group can be determined by first constructing a survivor curve which is plotted
as a percentage of the units surviving at each age. A survivor curve represents the
percentage of property remaining in service at various age intervals. The Iowa
Curves are the result of an extensive investigation of life characteristics of physical
property made at Iowa State College Engineering Experiment Station in the first half
of the prior century. Through common usage, revalidation and regulatory
acceptance, these curves have become a descriptive standard for the life
characteristics of industrial property. An example of an Iowa Curve is shown below.
5
There are four families in the Iowa Curves that are distinguished by the relation
of the age at the retirement mode (largest annual retirement frequency) and the
average life. For distributions with the mode age greater than the average life, an
"R" designation (i.e., Right modal) is used. The family of “R” moded curves is shown
below.
Similarly, an "S" designation (i.e., Symmetric modal) is used for the family
whose mode age is symmetric about the average life. An "L" designation (i.e., Left
modal) is used for the family whose mode age is less than the average life. A
special case of left modal dispersion is the "O" or origin modal curve family. Within
each curve family, numerical designations are used to describe the relative
magnitude of the retirement frequencies at the mode. A "6" indicates that the
retirements are not greatly dispersed from the mode (i.e., high mode frequency)
while a "1" indicates a large dispersion about the mode (i.e., low mode frequency).
For example, a curve with an average life of 30 years and an "L3" dispersion is a
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moderately dispersed, left modal curve that can be designated as a 30 L3 Curve.
An SQ, or square, survivor curve occurs where no dispersion is present (i.e., units of
common age retire simultaneously).
Most property groups can be closely fitted to one Iowa Curve with a unique
average service life. The blending of judgment concerning current conditions and
future trends along with the matching of historical data, permits the depreciation
analyst to make an informed selection of an account's average life and retirement
dispersion pattern.
Actuarial Analysis
Actuarial analysis (retirement rate method) was used in evaluating historical
asset retirement experience where vintage data were available and sufficient
retirement activity was present. In actuarial analysis, interval exposures (total
property subject to retirement at the beginning of the age interval, regardless of
vintage) and age interval retirements are calculated. The complement of the ratio of
interval retirements to interval exposures establishes a survivor ratio. The survivor
ratio is the fraction of property surviving to the end of the selected age interval, given
that it has survived to the beginning of that age interval. Survivor ratios for all of the
available age intervals were chained by successive multiplications to establish a
series of survivor factors, collectively known as an observed life table. The
observed life table shows the experienced mortality characteristic of the account and
may be compared to standard mortality curves such as the Iowa Curves. Where
data was available, accounts were analyzed using this method. Placement bands
were used to illustrate the composite history over a specific era, and experience
bands were used to focus on retirement history for all vintages during a set period.
The results from these analyses for those accounts which had data sufficient to be
analyzed using this method are shown in the Life Analysis section of this report.
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Judgment
Any depreciation study requires informed judgment by the analyst conducting
the study. A knowledge of the property being studied, company policies and
procedures, general trends in technology and industry practice, and a sound basis of
understanding depreciation theory are needed to apply this informed judgment.
Judgment was used in areas such as survivor curve modeling and selection,
depreciation method selection, simulated plant record method analysis, and
actuarial analysis.
Judgment is not defined as being used in cases where there are specific,
significant pieces of information that influence the choice of a life or curve. Those
cases would simply be a reflection of specific facts into the analysis. Where there
are multiple factors, activities, actions, property characteristics, statistical
inconsistencies, implications of applying certain curves, property mix in accounts or
a multitude of other considerations that impact the analysis (potentially in various
directions), judgment is used to take all of these factors and synthesize them into a
general direction or understanding of the characteristics of the property. Individually,
no one factor in these cases may have a substantial impact on the analysis, but
overall, may shed light on the utilization and characteristics of assets. Judgment
may also be defined as deduction, inference, wisdom, common sense, or the ability
to make sensible decisions. There is no single correct result from statistical
analysis; hence, there is no answer absent judgment. At the very least for example,
any analysis requires choosing which bands to place more emphasis.
The establishment of appropriate average service lives and retirement
dispersions for the Underground Storage, Transmission, Distribution and General
accounts requires judgment to incorporate the understanding of the operation of the
system with the available accounting information analyzed using the Retirement
Rate actuarial methods. The appropriateness of lives and curves depends not only
on statistical analyses, but also on how well future retirement patterns will match
past retirements.
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Current applications and trends in use of the equipment also need to be
factored into life and survivor curve choices in order for appropriate mortality
characteristics to be chosen.
Average Life Group Depreciation
Consumers Energy was authorized to use the average life group (“ALG”)
depreciation procedure in MPSC Case Number U-12999. At the request of
Consumers Energy, this study continues to use the average life group (ALG)
depreciation procedure to group the assets within each account. After an average
service life and dispersion were selected for each account, those parameters were
used to estimate what portion of the surviving investment of each vintage was
expected to retire. The depreciation of the group continues until all investment in the
vintage group is retired. ALG groups are defined by their respective account
dispersion, life, and salvage estimates. A straight-line rate for each ALG group is
calculated by computing a composite remaining life for each group across all
vintages within the group, dividing the remaining investment to be recovered by the
remaining life to find the annual depreciation expense and dividing the annual
depreciation expense by the surviving investment. The resultant rate for each ALG
group is designed to recover all retirements less net salvage when the last unit
retires. The ALG procedure recovers net book cost over the life of each account by
averaging many components.
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Theoretical Depreciation Reserve
The book depreciation reserve was derived from Company records where the
provision for depreciation is maintained on a plant account level. As a point of
comparison, a theoretical depreciation reserve model was computed for each
account. This study used a reserve model that relied on a prospective concept
relating future retirement and accrual patterns for property, given current life and
salvage estimates. The theoretical reserve of a group is developed from the
estimated remaining life, total life of the property group, and estimated net salvage.
The theoretical reserve represents the portion of the group cost that would have
been accrued if current forecasts were used throughout the life of the group for
future depreciation accruals. The computation involves multiplying the vintage
balances within the group by the theoretical reserve ratio for each vintage. The
average life group method requires an estimate of dispersion and service life to
establish how much of each vintage is expected to be retired in each year until all
property within the group is retired. Estimated average service lives and dispersion
determine the amount within each average life group. The straight-line remaining-
life theoretical reserve ratio at any given age (RR) is calculated as:
Ratio) SalvageNet-(1* Life) Service(Average
Life) Remaining (Average-1=RR
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DETAILED DISCUSSION
Depreciation Study Process
This depreciation study encompassed four distinct phases. The first phase
involved data collection and field interviews. The second phase was where the
initial data analysis occurred. The third phase was where the information and
analysis was evaluated. Once the first three stages were complete, the fourth
phase began. This phase involved the calculation of deprecation rates and the
documenting the corresponding recommendations.
During the Phase I data collection process, historical data was compiled from
continuing property records and general ledger systems. Data was validated for
accuracy by extracting and comparing to multiple financial system sources. Audit of
this data was validated against historical data from prior periods, historical general
ledger sources, and field personnel discussions. This data was reviewed
extensively to put in the proper format for a depreciation study. Further discussion
on data review and adjustment is found in the Salvage Considerations Section of
this study. Also as part of the Phase I data collection process, numerous
discussions were conducted with engineers and field operations personnel to obtain
information that would assist in formulating life and salvage recommendations in this
study. One of the most important elements of performing a proper depreciation
study is to understand how the Company utilizes assets and the environment of
those assets. Interviews with engineering and operations personnel are important
ways to allow the analyst to obtain information that is beneficial when evaluating the
output from the life and net salvage programs in relation to the Company’s actual
asset utilization and environment. Information that was gleaned in these
discussions is found both in the Detailed Discussion of this study in the life analysis
and salvage analysis sections and also in workpapers.
11
Phase 2 is where the actuarial analysis is performed. Phase 2 and 3 overlap
to a significant degree. The detailed property records information is used in phase 2
to develop observed life tables for life analysis. These tables are visually compared
to industry standard tables to determine historical life characteristics. It is possible
that the analyst would cycle back to this phase based on the evaluation process
performed in phase 3. Net salvage analysis consists of compiling historical salvage
and removal data by functional group to determine values and trends in gross
salvage and removal cost. This information was then carried forward into phase 3
for the evaluation process.
Phase 3 is the evaluation process which synthesizes analysis, interviews, and
operational characteristics into a final selection of asset lives and net salvage
parameters. The historical analysis from phase 2 is further enhanced by the
incorporation of recent or future changes in the characteristics or operations of
assets that were revealed in phase 1. Phases 2 and 3 allow the depreciation
analyst to validate the asset characteristics as seen in the accounting transactions
with actual Company operational experience.
Finally, Phase 4 involved the calculation of accrual rates, making
recommendations and documenting the conclusions in a final report. The
calculation of accrual rates is found in Appendix A. Recommendations for the
various accounts are contained within the Detailed Discussion of this report. The
depreciation study flow diagram shown as Figure 11 documents the steps used in
conducting this study. Depreciation Systems,2 page 289 documents the same basic
processes in performing a depreciation study which are: Statistical analysis,
evaluation of statistical analysis, discussions with management, forecast
assumptions, write logic supporting forecasts and estimation, and write final report.
1 Public Utility Finance & Accounting, A Reader 2 Wolf & Fitch, 1994 Edition
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Figure 1
CONSUMERS ENERGY DEPRECIATION STUDY PROCESS
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Depreciation Rate Calculation
Annual depreciation expense amounts for the depreciable accounts of
Consumers Energy were calculated by the straight line, average life group,
remaining life procedure. With this approach, remaining lives were calculated
according to standard ALG group expectancy techniques, using the Iowa Survivor
Curves noted in the calculation. For each plant account, the difference between the
surviving investment, adjusted for estimated net salvage, and the allocated book
depreciation reserve, was divided by the average remaining life to yield the annual
depreciation expense. These calculations are shown in Appendix A.
Remaining Life Calculation
The establishment of appropriate average service lives and retirement
dispersions for each account within a functional group was based on engineering
judgment that incorporated available accounting information analyzed using the
Retirement Rate actuarial methods. After establishment of appropriate average
service lives and retirement dispersion, remaining life was computed for each
account. Theoretical depreciation reserve with zero net salvage was calculated
using theoretical reserve ratios as defined in the theoretical reserve portion of the
General Discussion section. The difference between plant balance and theoretical
reserve was then spread over the ALG depreciation accruals.
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Life Analysis
The retirement rate actuarial analysis method was applied to all accounts for
Consumers Energy. For each account, an actuarial retirement rate analysis was
made with placement and experience bands of varying width. The historical
observed life table was plotted and compared with various Iowa Survivor Curves to
obtain the most appropriate match. A selected curve for each account is shown in
the Life Analysis Section of this report. The observed life tables for all analyzed
placement and experience bands are provided in workpapers.
For each account on the overall band (i.e. placement from earliest vintage
year which varied for each account through 2007), approved survivor curves from
MPSC Cases U-12999 & U-13730 were used as a starting point. Then using the
same average life, various dispersion curves were plotted. Frequently, visual
matching would confirm one specific dispersion pattern (i.e. L, S. or R) as an
obviously better match than others. The next step would be to determine the most
appropriate life using that dispersion pattern. Then, after looking at the overall
experience band, different experience bands were plotted and analyzed: in
increments of approximately ten years, for instance 1988-2007, 1978-2007, etc.
Next placement bands of varying width were plotted with each experience band
discussed above. Repeated matching usually pointed to a focus on one dispersion
family and small range of service lives. The goal of visual matching was to minimize
the differential between the observed life table and Iowa curve in top and mid range
of the plots. These results are used in conjunction with all other factors that may
influence asset lives.
15
Account 350.2 Underground Storage Rights of Way
This account includes the cost of land rights used in connection with
underground storage operations. There is approximately $1.4 million in this
account. Currently, the approved life for this account is 65 years with an S2
dispersion. Based on the actuarial analysis, this study recommends retaining the 65
year life and moving to an R4 dispersion.
16
Account 351.2 Compressor Station Structure
This account consists of compressor station structures associated with
underground storage sites. There is approximately $9.1 million in this account.
Currently, the approved life for this account is 45 years with an R3 dispersion.
Based on the actuarial analysis, this study recommends retaining the 45 year life
and moving to an R5 dispersion. An observed life table is graphed for this account
with the recommended curve below.
17
Account 351.3 Measuring and Regulating Station Structure
This account consists of measuring and regulating station structures used in
the underground storage operations. There is approximately $161 thousand in this
account. Currently, the approved life for this account is 45 years with an R3
dispersion. There have been no retirements in this account. This study
recommends retaining the 45 year life and R3 dispersion.
18
Account 351.4 Other Structures
This account consists of small structures and associated assets used in
underground storage operations. There is approximately $3.5 million of investment
in this account. The currently approved life for this account is 50 years with and R4
dispersion. Based on the actuarial analysis, this study recommends retaining the 50
year life and moving to an R3 dispersion. An observed life table is graphed for this
account with the recommended curve below.
19
Account 352.1 Underground Storage Leaseholds and Rights
This account consists of leaseholds and rights used in the underground
storage operations. There is approximately $6.8 million of investment in this
account. The currently approved life for this account is 65 years with an S2
dispersion. There is little retirement activity in this account. This study recommends
retaining the 65 year life and S2 dispersion.
20
Account 352.3 Well Construction
This account consists of assets created in the construction of well sites used
in the underground storage operations. There is approximately $45 million of
investment in this account. The currently approved life for this account is 50 years
with an R4 dispersion. Based on the actuarial analysis, this study recommends
retaining the 50 year life and R4 dispersion. An observed life table is graphed for
this account with the recommended curve below.
21
Account 352.4 Well Equipment
This account consists of well equipment assets used in the underground
storage operations. There is approximately $19 million of investment in this
account. The currently approved life for this account is 50 years with an R2.5
dispersion. As bands become more recent, the life moves from an R2.5 dispersion
to an R2. Based on the actuarial matching of history, this study recommends
moving from the 50 year life to a 48 year life with an R2 dispersion. An observed life
table is graphed for this account with the recommended curve below.
22
Account 353 Lines
This account consists of well lines used in the underground storage
operations. There is approximately $33.5 million of investment in this account. The
currently approved life for this account is 65 years with an S2 dispersion. Both the
65 S2 and the 65 R2 curves match well in this account. The 65 R2 matches the
actual experience of this account better over a larger number of placement and
experience bands than the 65 S2. Based on the actuarial matching of history, this
study recommends retaining the 65 year life and moving to the R2 dispersion. An
observed life table is graphed for this account with the recommended curve below.
23
Account 354 Compressor Station Equipment
This account consists of compressor station equipment used in the
underground storage operations. There is approximately $83 million of investment
in this account. The currently approved curve for this account is 40 years with an
R3 dispersion. Based on the actuarial matching of history, this study recommends
retaining the 40 year life and moving to an R2.5 dispersion. An observed life table is
graphed for this account with the recommended curve below.
24
Account 355 Measuring and Regulating Station Equipment
This account consists of measuring and regulating station equipment used in
the underground storage operations. There is approximately $7.3 million of
investment in this account. The currently approved life for this account is 45 years
with an R2.5 dispersion. The 40 R3 is a significantly better fit for this account than
the 45 R2.5. Based on the actuarial matching of history, this study recommends
moving from the 45 year life and R2.5 dispersion to a 40 year life with an R3
dispersion. An observed life table is graphed for this account with the recommended
curve below.
25
Account 356 Purification Equipment
This account consists of purification equipment used in the underground
storage operations. There is approximately $18.7 million of investment in this
account. The currently approved life for this account is 35 years with an R5
dispersion. The 35 R4 is a better fit for this account than the 35 R5. Based on the
actuarial matching of history, this study recommends retaining the 35 year life and
moving to an R4 dispersion. An observed life table is graphed for this account with
the recommended curve below.
26
Account 357 Other Equipment
This account consists of purification equipment used in the underground
storage operations. There is approximately $6.1 million of investment in this
account. The currently approved life for this account is 30 years with an R3
dispersion. The 30 R2.5 is a slightly better fit for this account than the 30 R3.
Based on the actuarial matching of history, this study recommends retaining the 30
year life and moving to an R2.5 dispersion. An observed life table is graphed for this
account with the recommended curve below.
27
Account 365.2 Rights of Way
This account includes the cost of land rights used in connection with
transmission operations. There is approximately $32.5 million in this account.
Currently, the approved life for this account is 75 years with an R3 dispersion.
There have been few retirements in this account. This study recommends retaining
the 75 year life and R3 dispersion.
28
Account 366 Structures and Improvements
This account includes the cost of structures and improvements used in
connection with distribution operations. There is approximately $11.8 million in this
account. Currently, the approved life for this account is 60 years with an R3
dispersion. There have been relatively few retirements in this account. This study
recommends retaining the 60 year life and R3 dispersion. An observed life table is
graphed for this account below.
29
Account 367 Mains
This account includes the cost of transmission mains primarily coated and
wrapped steel. The currently approved life for this account is 75 years with an R3
dispersion. There is approximately $297.9 million in plant in this account. There is
very little retirement experience reflected in the observed life table. Based on the
limited experience, a 75 R3 continues to fit the limited experience well. The 75 year
average life is slightly on the high side of expectations for the life of transmission
mains but it is still within a reasonable range. This study recommends keeping the
75-year life and R3 dispersion. An observed life table is graphed for this account
with the 75 R3 curve below. An observed life table is graphed for this account
below.
30
Account 368 Compressor Station Equipment
This account includes the cost of compressor station equipment used in
connection with transmission operations. There is approximately $41.6 million in
this account. Currently, the approved life for this account is 40 years with an R4
dispersion. The 40 R3 is the best fitting curve across the bands. This study
recommends retaining the approved 40 year life and with a move to an R3
dispersion. An observed life table is graphed for this account below.
31
Account 369 Measuring and Regulating Station Equipment
This account includes the cost of measuring and regulating station equipment
used in connection with transmission operations. There is approximately $38.1
million in this account. Currently, the approved life for this account is 55 years with
an R2 dispersion. The current life expectations for this account have decreased
from the 55 year life. Bands including older activity are reflecting a 43 to 45 year life
with bands in the most recent thirty years showing even shorter indications. The
best fitting life across most of the bands is a 43 R1.5. This study recommends
moving from the approved 55 year life to a 43 year life with the dispersion moving
from and R2 to an R1.5. An observed life table is graphed for this account below.
32
Account 370 Communication Equipment
This account includes the cost of communication equipment used in
connection with transmission operations. There is approximately $8.6 million in this
account. Currently, the approved life for this account is 15 years with an R4
dispersion. This account is experiencing a slightly shorter life than the current 15
years. The best fitting life is a 13 or 14 year life with an R3 dispersion. Bands over
the most recent thirty years slight shortening of life from 14 to 13 years with an R3
dispersion. This study recommends moving from the approved 15 year life to a 13
year life with a change in dispersion from R4 to R3. An observed life table is
graphed for this account below.
33
Account 371 Other Equipment
This account includes the cost of other equipment used in connection with
transmission operations. There is approximately $4.8 million in this account.
Currently, the approved life for this account is 30 years with an L2 dispersion. The
life of the account is shows a slight increase when examining the more recent thirty
or forty year bands. This study recommends moving from the approved 30 year life
to a 32 year life with a change in dispersion from L2 to L1. An observed life table is
graphed for this account below.
34
Account 374.2 Rights of Way
This account includes the cost of land rights used in connection with
distribution operations. There is approximately $9.0 million in this account.
Currently, the approved life for this account is 75 years with an R3 dispersion.
There have been few retirements in this account. This study recommends retaining
the 75 year life and R3 dispersion.
35
Account 375 Structures and Improvements
This account includes the cost of structures and improvements used in
connection with distribution operations. There is approximately $5.3 million in this
account. Currently, the approved life for this account is 50 years with an S1
dispersion. Viewing the full 100 years of placements, a significantly longer life would
seem to be indicated. However when viewing bands which comprises nearly all of
the investment in the account, a 55 year life with an R4 dispersion is the best fit.
Considering that most of the investment is exhibiting a 55 year life, this study
recommends moving from the approved 50 year life with an S1 dispersion to a 55
year life and R4 dispersion. An observed life table is graphed for this account with
the 55 R4 curve below.
36
Account 376.1 Mains - Bare
This account includes the cost of bare steel mains used in connection with
distribution operations. There is approximately $3.7 million in this account.
Currently, the approved life for this account is 70 years with an R2 dispersion. The
73 year life with an R1.5 dispersion is the best fit across most bands. This study
recommends moving from the approved 70 year life with an R2 dispersion to a 73
year life and R1.5 dispersion. An observed life table is graphed for this account
below.
37
Account 376.2 Mains – Coated and Wrapped
This account consists of coated and wrapped distribution mains. There is
approximately $378.3 Million of investment in this account. The currently approved
life for this account is 75 years with an R3 dispersion. The 80 R3 is a better match
for most of the longer placement and experience bands. Although the 75 R3 is
matching as well or better on the short experience and placement bands, the small
amount of change in the observed life curve for those bands would not recommend
choosing the 75 R3 over the more robust 80 R3 curve. Therefore, this study
recommends moving from the approved 75 year life with an R3 dispersion to an 80
year life with an R3 dispersion for this account. An observed life table is graphed for
this account below.
38
Account 376.3 Mains – Cast Iron
This account consists of cast iron distribution mains. There is approximately
$8.2 Million of investment in this account. The currently approved life for this
account is 65 years with an S3 dispersion. Shorter bands give erratic results, so this
study relies on the full placement and experience band. Therefore, this study
recommends moving from a 65 S3 to 63 year life with a S2 dispersion for this
account. An observed life table is graphed for this account below.
39
Account 376.4 Mains - Copper
This account consists of copper distribution mains. There is approximately
$13 thousand of investment in this account. The currently approved life for this
account is 60 years with an R5 dispersion. The 42 R4 is a significantly better match
than the 60 R5 for this account. Therefore, this study recommends moving from the
approved 60 year life to a 42 year life and retaining the R4 dispersion for this
account. An observed life table is graphed for this account below.
40
Account 376.5 Mains - Plastic
This account consists of cast iron distribution mains. There is approximately
$661.9 Million of investment in this account. The currently approved life for this
account is 60 years with an R3 dispersion. The stub curves are short and provide
limited information. Indications from various placement and experience bands show
a trend to a shorter life. Due to the limited transactional experience, the selection for
this account remains a 60 year life while moving to a higher mode dispersion R4, as
indicated by the spectrum of placement and experience bands. Therefore, this
study recommends retaining the approved 60 year life and moving from an R3
dispersion to an R4 dispersion for this account. An observed life table is graphed for
this account below.
41
Account 378 Measuring and Regulating Equipment
This account consists of measuring and regulating equipment used in
distribution operations. There is approximately $45.8 Million of investment in this
account. The currently approved life for this account is 50 years with an L0.5
dispersion. The 55 L0.5 is a better match over the longer placement and experience
ands, but the 50 L0.5 is a better match over more recent placement and experience
bands. Therefore, this study recommends retaining the approved 50 year life with
an L0.5 dispersion for this account. An observed life table is graphed for this
account below.
42
Account 380.1 Services - Bare
This account consists of bare services used in distribution operations. There
is approximately $181 thousand of investment in this account. The currently
approved life for this account is 42 years with an L0 dispersion. The 30 L0 is a
significantly better match than the 42 L0 over all placement and experience bands.
Therefore, this study recommends moving from the approved 42 year life to a 30
year life and retaining the approved L0 dispersion for this account. An observed life
table is graphed for this account below.
43
Account 380.2 Services – Coated and Wrapped
This account consists of coated and wrapped services used in distribution
operations. There is approximately $69.4 Million of investment in this account. The
currently approved life for this account is 56 years with an R0.5 dispersion. The
overall band shows a slight increase in life to a 57 R0.5 dispersion for this account.
Therefore, this study recommends moving from the approved 56 year life to a 57
year life and retaining the R0.5 dispersion for this account. An observed life table is
graphed for this account below.
44
Account 380.4 Services - Copper
This account consists of copper services used in distribution operations.
There is approximately $25.4 Million of investment in this account. The currently
approved life for this account is 53 years with an R1 dispersion. The 53 R1 is the
best match in the overall band, but when focusing on the more recent thirty or forty
year bands the life shortens to 46 years with an R1 dispersion. Therefore, this study
recommends moving from the approved 53 R1 to a 46 year life and R1 dispersion
for this account. An observed life table is graphed for this account below.
45
Account 380.5 Services - Plastic
This account consists of measuring and regulating equipment used in
distribution operations. There is approximately $671.4 Million of investment in this
account. The currently approved life for this account is 40 years with an R1.5
dispersion. The 46 R4 is a better match than the 40 R1.5 over all placement and
experience bands. Therefore, this study recommends retaining the moving from the
approved 40 year life and R1.5 dispersion to a 46 year life and R4 dispersion for this
account. An observed life table is graphed for this account below.
46
Account 381 Meters
This account includes the cost of meters used in measuring gas to residential
customers. There is approximately $195.8 million in plant in this account. The
current approved life of the meter account is 42 years with an S2 dispersion. Visual
matching across many bands also shows that the 41 R2.5 curve is the best fit over
all bands. Based on the visual matching, a 41 R2.5 is recommended for this
account. An observed life table is graphed for this account with the 41 R2.5 curve
below.
47
Account 382 Meter and House Regulator Installation
This account includes the cost of domestic meter and regulator stations
(excluding the meters and regulators). The currently approved life for this account is
52 years with an R2.5 dispersion. There is approximately $189.5 million in plant in
this account. Based on visual matching, the 50 R3 is the best fit over the various
bands. Therefore, this study recommends moving from the 52 R2.5 to the 50 R3 for
this account. An observed life table is graphed for this account below.
48
Account 383 House Regulators
This account includes the cost of domestic regulators. There is
approximately $19.8 million of plant in this account. The currently approved life for
this account is 55 years with an R1 dispersion. For the majority of the bands, the 45
R1 is the best fit. Newer bands reflecting experience in the 1970s and 1980s are
shortening from the 45 year life. The newer bands (reflecting 1987-2007 activity for
1977 and newer regulators) are showing a shorter life of 35 years. This study
recommends moving from the 55 year life to a 45 year life while retaining the R1
dispersion. The expectation is that as older regulators retire, the next study will
recommend moving closer to the 35 year life being experienced by the newer
regulators. An observed life table is graphed for this account below.
49
Account 389.2 Rights of Way
This account includes the cost of land rights used in connection with
distribution operations. There is approximately $1,500 in this account. Currently,
the approved life for this account is 50 years with an R3 dispersion. There have
been few retirements in this account. This study recommends retaining the 50 year
life and R3 dispersion.
50
Account 390 Structures and Improvements
This account includes the cost of general structures and improvements used
for utility service. There is approximately $27.6 million in this account. The current
life for this account is 50 years with an R3 dispersion. A 50 R3 life is indicating in
most bands. Dispersion varies from an R3, R2, to an R1.5 in the most recent twenty
and thirty year bands. Based on the experience, this study recommends retaining
the approved 50 year life and moving to an R1.5 dispersion for this account. An
observed life table is graphed for this account below.
51
Account 391.0 Office Furniture and Equipment
This account consists of miscellaneous office furniture such as desks, chairs,
filing cabinets, and tables used for general utility service. There is approximately $1
million in this account. This account currently has a fixed life for amortization of 15
years. This study recommends retaining the 15 year amortization rate for this
account.
Account 391.2 Computer Equipment
This account consists of computer equipment used for general utility service.
There is approximately $3.8 million in this account. This account currently has a
fixed life for amortization of 7 years. This study recommends moving to a five year
amortization rate for this account.
Account 393.0 Stores Equipment
This account consists of stores equipment used for general utility service.
There is approximately $51 thousand in this account. This account currently has a
fixed life for amortization of 20 years. This study recommends moving to a 25 year
amortization rate for this account.
52
Account 394.0 Tools, Shop, and Garage Equipment
This account consists of various items or tools used in shop and garages
such as air compressors, grinders, mixers, hoists, and cranes. There is
approximately $7.2 million in this account. This account currently has a fixed life for
amortization of 20 years. This study recommends retaining the 20 year amortization
rate for this account.
Account 395.0 Laboratory Equipment
This account consists of laboratory equipment used in general utility service.
There is approximately $825 thousand in this account. This account currently has a
fixed life for amortization of 15 years. This study recommends retaining the 15 year
amortization rate for this account.
53
Account 396.0 Power Operated Equipment
This account consists of bulldozers, forklifts, trenchers, and other power
operated equipment that cannot be licensed on roadways. The currently approved
life for this account is 10 years with an L1 dispersion. There is approximately $3.6
million in plant in this account. Older bands reflect a life of 10 years. The lives
bands which represent the experience of the last 15 to 25 years have increasingly
shortened. Lives representative of assets in the last 15 years reflect a 7 year life.
Since the last 15 years is over twice the life of the assets the 7 year life is more
representative of the lives of the assets in the future. Based on the above, this study
recommends moving from a 10 year life to a 7 year life moving from an L1 to an L0
dispersion. An observed life table is graphed for this account below.
54
Account 397.0 Communication Equipment
This account consists of miscellaneous communication equipment used in
general utility service. There is approximately $7.9 million in this account. This
account currently has a fixed life for amortization of 15 years. This study
recommends retaining the 15 year amortization rate for this account.
Account 398.0 Miscellaneous Equipment
This account consists of miscellaneous equipment used in general utility
service. There is approximately $404 thousand in this account. This account
currently has a fixed life for amortization of 15 years. This study recommends
retaining the 15 year amortization rate for this account.
55
Salvage Analysis
When a capital asset is retired, physically removed from service and finally
disposed of, terminal retirement is said to have occurred. The residual value of a
terminal retirement is called gross salvage. Net salvage is the difference between
the gross salvage (what the asset was sold for) and the removal cost (cost to
remove and dispose of the asset). Salvage and removal cost percentages are
calculated by dividing the current cost of salvage or removal by the original installed
cost of the asset. Some plant assets can experience significant negative removal
cost percentages due to the timing of the original addition versus the retirement. For
example, a Distribution asset in FERC Account 376 with a current installed cost of
$500 (2007) would have had an installed cost of $38.533 in 1956. A removal cost of
$50 for the asset calculated (incorrectly) on current installed cost would only have a
negative10 percent removal cost ($50/$500). However, a correct removal cost
calculation would show a negative 129.8 percent removal cost for that asset
($50/$38.53). Inflation from the time of installation of the asset until the time of its
removal must be taken into account in the calculation of the removal cost
percentage because the depreciation rate, which includes the removal cost
percentage, will be applied to the original installed cost of assets.
In 2006 and 2007, Consumers Energy made a substantial effort to catch up on
property accounting backlogs in unitization and retirements. These retirements
generally reflected retirements that occurred over the last three to five years. The
retirement backlogs were referenced back to the year the physical retirement
occurred.
3 Using the Handy-Whitman Bulletin No. 167, G-3, line 44, $38.53 = $500 x 46/ 597.
56
The net salvage analysis uses the history of the individual accounts to
estimate the future net salvage that Consumers Energy can expect in its
operations. As a result, the analysis not only looks at the historical experience of
Consumers Energy, but also takes into account recent and expected changes in
operations that could reasonably lead to different future expectations for net
salvage than were experienced in the past. Recent experience is more heavily
weighted in making net salvage recommendations than experience several years
in the past.
Salvage Characteristics
For each function, data for retirements, gross salvage, and cost of removal for
each functional group adjusted as discussed above was derived from 1993-2007.
Moving averages, which remove timing differences between retirement and salvage
and removal cost, were analyzed over periods varying from one to 10 years.
57
Underground Storage Plant
Account 350.2 Rights of Way
This account includes any salvage and removal cost related to land rights
used in connection with underground storage operations. The currently authorized
net salvage for this account is 0 percent. Generally, little or no removal cost is
incurred and no salvage is received at the retirement of land rights. The historical
data supports a 0% net salvage for these accounts. Therefore, this study
recommends retaining the approved 0% net salvage for this account.
2- yr 3- yr 4- yr 5- yr 6- yr Gross Cost of Net Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Salv. % Account 350.2 Underground Storage Land Rights
1993 0.00 0.00 0.00 0.00 NA 1994 0.00 0.00 0.00 0.00 NA NA 1995 0.00 0.00 0.00 0.00 NA NA NA 1996 0.00 0.00 0.00 0.00 NA NA NA NA 1997 0.00 0.00 0.00 0.00 NA NA NA NA NA 1998 718.50 0.00 0.00 0.00 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%1999 0.00 0.00 0.00 0.00 NA 0.00% 0.00% 0.00% 0.00% 0.00%2000 0.00 0.00 0.00 0.00 NA NA 0.00% 0.00% 0.00% 0.00%2001 0.00 0.00 0.00 0.00 NA NA NA 0.00% 0.00% 0.00%2002 0.00 0.00 0.00 0.00 NA NA NA NA 0.00% 0.00%2003 0.00 0.00 0.00 0.00 NA NA NA NA NA 0.00%2004 2,827.38 0.00 0.00 0.00 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%2005 4.00 0.00 0.00 0.00 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%2006 0.00 0.00 0.00 0.00 NA 0.00% 0.00% 0.00% 0.00% 0.00%2007 0.00 0.00 0.00 0.00 NA NA 0.00% 0.00% 0.00% 0.00%
58
Account 351.2 Compressor Station Structures
This account includes any salvage and removal cost related to structures
used in connection with underground storage compressor operations. The currently
authorized net salvage for this account is negative 6 percent. Retirements in the
years shown are primarily from the 2005-6 retirement of an auxiliary building and the
1998 retirement of a water tank. The small number of retirements in the last three
years relative to the total account balance does not give enough indication of the
future to change net salvage at this point. Therefore, this study recommends
retaining the approved negative 6 percent net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 351.2 Compressor Station Structures 1993 0.00 0.00 (3,449.00) 3,449.00 NA 1994 0.00 0.00 0.00 0.00 NA NA 1995 0.00 0.00 0.00 0.00 NA NA NA 1996 0.00 0.00 0.00 0.00 NA NA NA NA 1997 0.00 0.00 0.00 0.00 NA NA NA NA NA1998 132,752.20 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%1999 0.00 0.00 3,799.00 (3,799.00) NA -2.9% -2.9% -2.9% -2.9%2000 0.00 0.00 0.00 0.00 NA NA -2.9% -2.9% -2.9%2001 0.00 0.00 1,463.00 (1,463.00) NA NA NA -4.0% -4.0%2002 0.00 0.00 993.00 (993.00) NA NA NA NA -4.7%2003 0.00 0.00 862.16 (862.16) NA NA NA NA NA2004 0.00 0.00 6,888.20 (6,888.20) NA NA NA NA NA2005 33,186.83 0.00 38,792.58 (38,792.58) -116.9% -137.6% -140.2% -143.2% -147.6%2006 31,263.04 0.00 8,495.88 (8,495.88) -27.2% -73.4% -84.1% -85.4% -86.9%2007 3,663.39 0.00 32,415.00 (32,415.00) -884.8% -117.1% -117.0% -127.1% -128.4%
59
Account 351.3 Measuring & Regulating Station Structures
This account includes any salvage and removal cost related to structures
used in connection with underground storage M&R Station operations. The currently
authorized net salvage for this account is negative 6 percent. There has been no
activity in this account for the past several years. Therefore, this study recommends
retaining the approved negative 6 percent net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 351.3 M & R Station Structures 1993 0.00 0.00 0.00 0.00 NA 1994 0.00 0.00 0.00 0.00 NA NA 1995 0.00 0.00 0.00 0.00 NA NA NA 1996 0.00 0.00 0.00 0.00 NA NA NA NA 1997 0.00 0.00 0.00 0.00 NA NA NA NA NA1998 0.00 0.00 0.00 0.00 NA NA NA NA NA1999 0.00 0.00 0.00 0.00 NA NA NA NA NA2000 0.00 0.00 0.00 0.00 NA NA NA NA NA2001 0.00 0.00 0.00 0.00 NA NA NA NA NA2002 0.00 0.00 0.00 0.00 NA NA NA NA NA2003 0.00 0.00 0.00 0.00 NA NA NA NA NA2004 0.00 0.00 0.00 0.00 NA NA NA NA NA2005 0.00 0.00 0.00 0.00 NA NA NA NA NA2006 0.00 0.00 0.00 0.00 NA NA NA NA NA2007 0.00 0.00 0.00 0.00 NA NA NA NA NA
60
Account 351.4 Other Storage Structures
This account includes any salvage and removal cost related to structures
used in connection with other underground storage activities. The currently
authorized net salvage for this account is negative 28 percent. A recent positive net
salvage for the 2005 sale of a Walker Neer Workover Rig has been excluded from
the analysis as a non-reoccurring event. This sale generated approximately $177
thousand. The average net salvage is significantly negative. However, with the lack
of retirements shown to support the ongoing salvage and removal cost for other
assets, this study recommends retaining the approved negative 28 percent net
salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 351.4 Other Structures 1993 5,075.00 769.00 5,501.00 (4,732.00) -93.2% 1994 1,555.00 0.00 667.00 (667.00) -42.9% -81.4% 1995 0.00 0.00 3,386.00 (3,386.00) NA -260.6% -132.5% 1996 0.00 0.00 0.00 0.00 NA NA -260.6% -132.5% 1997 12,338.20 0.00 25,063.00 (25,063.00) -203.1% -203.1% -230.6% -209.6% -178.4%1998 18,756.20 324.00 3,543.00 (3,219.00) -17.2% -91.0% -91.0% -101.8% -99.0%1999 0.00 0.00 288.00 (288.00) NA -18.7% -91.9% -91.9% -102.8%2000 10,031.10 362.00 1,630.00 (1,268.00) -12.6% -15.5% -16.6% -72.6% -72.6%2001 0.00 0.00 15,306.00 (15,306.00) NA -165.2% -168.1% -69.8% -109.8%2002 2,211.80 312.00 4,460.00 (4,148.00) -187.5% -879.6% -169.3% -171.6% -78.2%2003 0.00 6,528.27 11,402.01 (4,873.74) NA -407.9% -1099.9% -209.1% -211.4%2004 0.00 476.01 13,611.13 (13,135.12) NA NA -1001.8% -1693.8% -316.4%2005 0.00 0.00 14,325.00 (14,325.00) NA NA NA -1649.4% -2341.4%2006 76,064.37 696.31 17,804.15 (17,107.84) -22.5% -41.3% -58.6% -65.0% -68.5%2007 12,209.86 0.00 0.00 0.00 0.0% -19.4% -35.6% -50.5% -56.0%
61
Account 352.1 Leaseholds & Rights
This account includes any salvage and removal cost related to leaseholds
and rights used in connection with underground storage operations. The currently
authorized net salvage rate for this account is 0 percent. No removal cost is
incurred and no salvage is received at the retirement of leaseholds and land rights.
Therefore, this study recommends retaining the approved 0% net salvage for this
account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 352.1 Leaseholds & Rights 1993 0.00 0.00 0.00 0.00 NA 1994 0.00 0.00 0.00 0.00 NA NA 1995 0.00 0.00 0.00 0.00 NA NA NA 1996 0.00 0.00 0.00 0.00 NA NA NA NA 1997 0.00 0.00 0.00 0.00 NA NA NA NA NA1998 0.00 0.00 0.00 0.00 NA NA NA NA NA1999 0.00 0.00 0.00 0.00 NA NA NA NA NA2000 0.00 0.00 0.00 0.00 NA NA NA NA NA2001 0.00 0.00 0.00 0.00 NA NA NA NA NA2002 0.00 0.00 0.00 0.00 NA NA NA NA NA2003 0.00 0.00 0.00 0.00 NA NA NA NA NA2004 0.00 0.00 0.00 0.00 NA NA NA NA NA2005 0.00 0.00 0.00 0.00 NA NA NA NA NA2006 0.00 0.00 0.00 0.00 NA NA NA NA NA2007 0.00 0.00 0.00 0.00 NA NA NA NA NA
62
Accounts 352.3 & 352.4 Well Construction & Well Equipment
These accounts include any salvage and removal cost related to well
construction and well equipment assets used in connection with underground
storage operations. These accounts have an authorized net salvage rate of
negative 73 percent. In 2007, there was an atypical event where a third party
plugged a well to get access to the site. Based on the 10-year average for these
accounts of negative 68 percent net salvage, this study recommends moving from
the approved negative 73 percent net salvage to a negative 68 percent net salvage
for these accounts.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Combined Accounts 352.3 & 352.4 Well Construction & Well Equipment 1993 210,697.00 9,556.00 54,656.00 (45,100.00) -21.4% 1994 15,204.00 0.00 5,208.00 (5,208.00) -34.3% -22.3% 1995 2,815.00 200.00 0.00 200.00 7.1% -27.8% -21.9% 1996 0.00 21,550.00 92,815.00 (71,265.00) NA -2524.5% -423.3% -53.1% 1997 235,812.00 (34.00) 150,853.00 (150,887.00) -64.0% -94.2% -93.0% -89.5% -58.6%1998 694,213.70 21,815.00 205,825.00 (184,010.00) -26.5% -36.0% -43.7% -43.5% -43.4%1999 52,249.20 0.00 354,150.00 (354,150.00) -677.8% -72.1% -70.1% -77.4% -77.2%2000 565,088.30 13,385.00 208,339.00 (194,954.00) -34.5% -88.9% -55.9% -57.1% -61.7%2001 270,985.43 0.00 125,104.00 (125,104.00) -46.2% -38.3% -75.9% -54.2% -55.5%2002 76,946.70 1,198.00 130,479.00 (129,281.00) -168.0% -73.1% -49.2% -83.2% -59.5%2003 182,295.85 259,825.47 435,894.26 (176,068.79) -96.6% -117.8% -81.2% -57.1% -85.4%2004 714,137.01 4,111.38 942,668.25 (938,556.87) -131.4% -124.3% -127.8% -110.0% -86.4%2005 81,801.90 35,169.92 427,838.48 (392,668.56) -480.0% -167.3% -154.1% -155.1% -132.8%2006 1,228,199.72 29,779.59 470,891.17 (441,111.58) -35.9% -63.6% -87.6% -88.3% -91.0%2007 853,452.80 2,265.00 267,631.00 (265,366.00) -31.1% -33.9% -50.8% -70.8% -72.3%
63
Account 353.0 Well Lines
This account includes any salvage and removal cost related to well lines used
in connection with underground storage operations. The currently authorized net
salvage is negative 140 percent. The historical data shows a decrease in the
negative net salvage for this account. In certain circumstances in the last couple
years, negotiations with third parties have allowed the removal of the well lines for
specific wells at cost. This is impacting the realized net salvage and is expected to
continue. In addition, Pipeline Integrity Program (“PIP”) costs have been removed
from this analysis. The five-year and ten-year ten salvage percentages have been
slightly over negative 50 percent. Therefore, this study recommends moving from
the approved net salvage of negative 140 percent to the longer-term average of
negative 50 percent for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 353 Lines
1993 114,570.00 0.00 92,967.00 (92,967.00) -81.1% 1994 0.00 0.00 1,145.00 (1,145.00) NA -82.1% 1995 139,709.00 0.00 123,477.00 (123,477.00) -88.4% -89.2% -85.6% 1996 0.00 9,480.00 23,683.00 (14,203.00) NA -98.5% -99.4% -91.2% 1997 2,355.50 0.00 296.00 (296.00) -12.6% -615.5% -97.1% -97.9% -90.4%1998 52,655.10 32.00 0.00 32.00 0.1% -0.5% -26.3% -70.8% -71.4%1999 0.00 0.00 2,273.00 (2,273.00) NA -4.3% -4.6% -30.4% -72.0%2000 83,805.30 0.00 3,396.00 (3,396.00) -4.1% -6.8% -4.1% -4.3% -14.5%2001 8,000.00 0.00 54,940.00 (54,940.00) -686.8% -63.5% -66.0% -41.9% -41.5%2002 35,190.00 874.00 33,951.00 (33,077.00) -94.0% -203.8% -72.0% -73.8% -52.1%2003 0.00 0.00 147,486.24 (147,486.24) NA -513.1% -545.3% -188.1% -189.9%2004 580,786.00 1,458.02 71,225.86 (69,767.84) -12.0% -37.4% -40.6% -48.9% -43.6%2005 19,493.95 4,403.52 65,486.22 (61,082.70) -313.3% -21.8% -46.4% -49.0% -56.9%2006 248,445.62 4,200.00 36,629.00 (32,429.00) -13.1% -34.9% -19.2% -36.6% -38.9%2007 7,748.45 0.00 172,861.00 (172,861.00) -2230.9% -80.1% -96.6% -39.2% -56.5%
64
Account 354 Compressor Station Equipment
This account includes any salvage and removal cost related to compressor
station equipment used in connection with underground storage operations. The
currently authorized net salvage rate for this account is negative 17 percent. The
current 5-year average net salvage for this account is over negative 24 percent, and
the ten-year average net salvage is negative 23 percent. Since the pattern remains
erratic, this study recommends retaining the approved negative 17 percent net
salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 354 Compressor Station Equipment 1993 2,236.00 1,600.00 1,251.00 349.00 15.6% 1994 1,186,269.00 0.00 73,650.00 (73,650.00) -6.2% -6.2% 1995 25,378.00 0.00 41,975.00 (41,975.00) -165.4% -9.5% -9.5% 1996 0.00 0.00 281,691.00 (281,691.00) NA -1275.4% -32.8% -32.7% 1997 3,304,272.50 0.00 7,932.00 (7,932.00) -0.2% -8.8% -10.0% -9.0% -9.0%1998 212,994.40 10,000.00 174,661.00 (164,661.00) -77.3% -4.9% -12.9% -14.0% -12.1%1999 1,359,568.20 0.00 90,251.00 (90,251.00) -6.6% -16.2% -5.4% -11.2% -12.0%2000 58,428.00 2,695.00 27,039.00 (24,344.00) -41.7% -8.1% -17.1% -5.8% -11.5%2001 138,606.89 0.00 26,666.00 (26,666.00) -19.2% -25.9% -9.1% -17.3% -6.2%2002 63,552.07 0.00 103,217.00 (103,217.00) -162.4% -64.2% -59.2% -15.1% -22.3%2003 170,609.31 0.00 48,555.51 (48,555.51) -28.5% -64.8% -47.9% -47.0% -16.4%2004 149,072.90 0.00 111,734.76 (111,734.76) -75.0% -50.1% -68.8% -55.6% -54.2%2005 0.00 1,006.44 18,198.95 (17,192.51) NA -86.5% -55.5% -73.2% -58.9%2006 242,875.53 0.00 9,030.76 (9,030.76) -3.7% -10.8% -35.2% -33.2% -46.3%2007 870,363.56 0.00 157,460.11 (157,460.11) -18.1% -15.0% -16.5% -23.4% -24.0%
65
Account 355.0 Measuring & Regulating Equipment
This account includes any salvage and removal cost related to measuring and
regulating equipment used in connection with underground storage operations. The
currently authorized net salvage rate for this account is negative 22 percent. The
five-year and ten-year average net salvage percents reflect a negative 17 percent
net salvage rate. This study recommends moving from the approved negative 22
percent net salvage to negative 17 percent net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 355 M & R Station Equipment 1993 37,906.00 1,328.00 22,679.00 (21,351.00) -56.3% 1994 0.00 0.00 (1,029.00) 1,029.00 NA -53.6% 1995 0.00 0.00 0.00 0.00 NA NA -53.6% 1996 0.00 0.00 0.00 0.00 NA NA NA -53.6% 1997 12,219.50 0.00 1,418.00 (1,418.00) -11.6% -11.6% -11.6% -3.2% -43.4%1998 13,735.30 546.00 6,426.00 (5,880.00) -42.8% -28.1% -28.1% -28.1% -24.2%1999 0.00 0.00 749.00 (749.00) NA -48.3% -31.0% -31.0% -31.0%2000 35,649.80 359.00 1,306.00 (947.00) -2.7% -4.8% -15.3% -14.6% -14.6%2001 23,092.60 0.00 264.00 (264.00) -1.1% -2.1% -3.3% -10.8% -10.9%2002 0.00 0.00 288.00 (288.00) NA -2.4% -2.6% -3.8% -11.2%2003 0.00 13,364.36 14,168.56 (804.20) NA NA -5.9% -3.9% -5.2%2004 531,236.54 253.52 49,136.20 (48,882.68) -9.2% -9.4% -9.4% -9.1% -8.7%2005 1,691.89 1,340.35 23,083.95 (21,743.60) -1285.2% -13.3% -13.4% -13.5% -12.9%2006 296,594.74 443.87 14,232.72 (13,788.85) -4.6% -11.9% -10.2% -10.3% -10.3%2007 10,630.17 0.00 62,493.00 (62,493.00) -587.9% -24.8% -31.7% -17.5% -17.6%
66
Account 356.0 Purification Equipment
This account includes any salvage and removal cost related to purification
equipment used in connection with underground storage operations. The currently
authorized net salvage rate for this account is negative 28 percent. The five year
average net salvage rate for this account is negative 28 percent. This study
recommends retaining the approved negative 28 percent net salvage rate for this
account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 356 Purification Equipment 1993 15,716.00 2,697.00 18,978.00 (16,281.00) -103.6% 1994 80,596.00 0.00 2,821.00 (2,821.00) -3.5% -19.8% 1995 0.00 0.00 0.00 0.00 NA -3.5% -19.8% 1996 0.00 0.00 0.00 0.00 NA NA -3.5% -19.8% 1997 18,773.30 0.00 111,652.00 (111,652.00) -594.7% -594.7% -594.7% -115.2% -113.6%1998 71,720.50 1,513.00 18,251.00 (16,738.00) -23.3% -141.9% -141.9% -141.9% -76.7%1999 0.00 0.00 13,210.00 (13,210.00) NA -41.8% -156.5% -156.5% -156.5%2000 44,054.00 2,270.00 14,215.00 (11,945.00) -27.1% -57.1% -36.2% -114.1% -114.1%2001 21,508.20 0.00 6,252.00 (6,252.00) -29.1% -27.8% -47.9% -35.1% -102.4%2002 2,156.10 88.00 8,106.00 (8,018.00) -371.9% -60.3% -38.7% -58.2% -40.3%2003 0.00 24,282.14 44,162.69 (19,880.55) NA -1293.9% -144.3% -68.1% -87.6%2004 89,572.91 409.89 35,024.03 (34,614.14) -38.6% -60.8% -68.1% -60.7% -51.3%2005 237,948.41 3,345.27 46,439.07 (43,093.80) -18.1% -23.7% -29.8% -32.0% -31.9%2006 144,200.74 2,398.18 52,058.49 (49,660.31) -34.4% -24.3% -27.0% -31.2% -32.8%2007 57,432.28 0.00 0.00 0.00 0.0% -24.6% -21.1% -24.1% -27.8%
67
Account 357.0 Other Storage Equipment
This account includes any salvage and removal cost related to other storage
equipment used in connection with underground storage operations. The currently
authorized net salvage rate for this account is negative 11 percent. Most of the net
salvage percentages of more than four years are close to negative 6 percent.
Therefore, this study recommends moving from the approved negative 11 percent
net salvage to negative 6 percent net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 357 Underground Storage Other Equipment 1993 19,848.00 1,919.00 0.00 1,919.00 9.7% 1994 4,556.00 285.00 0.00 285.00 6.3% 9.0% 1995 0.00 0.00 0.00 0.00 NA 6.3% 9.0% 1996 261,688.00 2,911.00 12,892.00 (9,981.00) -3.8% -3.8% -3.6% -2.7% 1997 12,333.70 0.00 20,027.00 (20,027.00) -162.4% -11.0% -11.0% -10.7% -9.3%1998 5,296.50 135.00 0.00 135.00 2.5% -112.8% -10.7% -10.7% -10.4%1999 0.00 0.00 52.00 (52.00) NA 1.6% -113.1% -10.7% -10.7%2000 0.00 0.00 0.00 0.00 NA NA 1.6% -113.1% -10.7%2001 0.00 0.00 0.00 0.00 NA NA NA 1.6% -113.1%2002 0.00 0.00 11.00 (11.00) NA NA NA NA 1.4%2003 0.00 0.00 485.84 (485.84) NA NA NA NA NA2004 271,138.00 0.00 12,883.89 (12,883.89) -4.8% -4.9% -4.9% -4.9% -4.9%2005 982.80 0.00 5,510.67 (5,510.67) -560.7% -6.8% -6.9% -6.9% -6.9%2006 14,071.00 0.00 545.01 (545.01) -3.9% -40.2% -6.6% -6.8% -6.8%2007 63,742.96 0.00 0.00 0.00 0.0% -0.7% -7.7% -5.4% -5.6%
68
Transmission Plant
Account 365.2 Rights of Way
This account includes any salvage and removal cost related to land rights
used in connection with transmission operations. The authorized net salvage rate
for this account is 0 percent. Generally, little or no removal cost is incurred and no
salvage is received at the retirement of land rights. The removal cost in this account
will be reassigned to a different account. Therefore, this study recommends
retaining the approved 0% net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 365.2 Transmission Land Rights 1993 0.00 0.00 0.00 0.00 NA 1994 0.00 0.00 0.00 0.00 NA NA 1995 150.00 0.00 0.00 0.00 0.0% 0.0% 0.0% 1996 0.00 0.00 0.00 0.00 NA 0.0% 0.0% 0.0% 1997 0.00 0.00 0.00 0.00 NA NA 0.0% 0.0% 0.0%1998 836.10 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%1999 29,602.80 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%2000 0.00 0.00 0.00 0.00 NA 0.0% 0.0% 0.0% 0.0%2001 0.00 0.00 0.00 0.00 NA NA 0.0% 0.0% 0.0%2002 0.00 0.00 0.00 0.00 NA NA NA 0.0% 0.0%2003 0.00 0.00 0.00 0.00 NA NA NA NA 0.0%2004 0.00 139.32 0.00 139.32 NA NA NA NA NA2005 0.00 0.00 0.00 0.00 NA NA NA NA NA2006 0.00 28.26 111.96 (83.70) NA NA NA NA NA2007 0.00 0.00 0.00 0.00 NA NA NA NA NA
69
Account 366.0 Structures and Improvements
This account includes any salvage and removal cost related to structures and
improvements used in connection with transmission operations. The authorized net
salvage rate for this account is negative 2 percent. The most recent average net
salvage percentages are negative 25 percent or higher. Therefore based on the
Company’s experience, this study recommends moving from the approved negative
2 percent net salvage to a conservative negative 25 percent net salvage for this
account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 366 Transmission Structures and Improvements 1993 43,278.00 0.00 52,041.00 (52,041.00) -120.2% 1994 0.00 0.00 (24,879.00) 24,879.00 NA -62.8% 1995 19,933.00 11,200.00 410.00 10,790.00 54.1% 178.9% -25.9% 1996 11,256.00 12.00 28.00 (16.00) -0.1% 34.5% 114.3% -22.0% 1997 0.00 0.00 0.00 0.00 NA -0.1% 34.5% 114.3% -22.0%1998 9,313.50 0.00 0.00 0.00 0.0% 0.0% -0.1% 26.6% 88.0%1999 0.00 0.00 0.00 0.00 NA 0.0% 0.0% -0.1% 26.6%2000 1,933.80 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% -0.1%2001 0.00 0.00 8,626.00 (8,626.00) NA -446.1% -446.1% -76.7% -76.7%2002 0.00 0.00 6,799.00 (6,799.00) NA NA -797.7% -797.7% -137.1%2003 0.00 10,416.38 9,293.31 1,123.07 NA NA NA -739.6% -739.6%2004 8,753.39 0.00 3,001.17 (3,001.17) -34.3% -21.5% -99.1% -197.7% -161.9%2005 5,078.21 0.00 3,520.16 (3,520.16) -69.3% -47.1% -39.0% -88.2% -150.5%2006 194,097.15 0.00 24,890.18 (24,890.18) -12.8% -14.3% -15.1% -14.6% -17.8%2007 12,292.55 0.00 24,680.00 (24,680.00) -200.8% -24.0% -25.1% -25.5% -25.0%
70
Account 367.0 Mains
This account includes any salvage and removal cost related to mains used in
connection with transmission operations. The authorized net salvage rate for this
account is negative 26 percent. The removal cost experienced in 2003 through 2007
included nearly $16 million in Pipeline Integrity (“PI”) Program costs. The table
below excludes PI Program costs. Recent years have seen a decline in cost of
removal, in large part due to the focus on PI. However, the most recent moving
averages of periods 7 years or more are well in excess of the current approved net
salvage percent. Until more non-normal PI activity occurs, this study recommends
retaining the current approved net salvage of 26 percent.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 367 Transmission Mains 1993 151,669.00 4,643.00 1,452.00 3,191.00 2.1% 1994 20.00 0.00 8,749.00 (8,749.00) -43745.0% -3.7% 1995 4,700.00 129.00 7,208.00 (7,079.00) -150.6% -335.3% -8.1% 1996 28,402.00 1,310.00 443.00 867.00 3.1% -18.8% -45.2% -6.4% 1997 7,000.00 1,890.00 22.00 1,868.00 26.7% 7.7% -10.8% -32.6% -5.2%1998 7,100.00 5,377.00 58,488.00 (53,111.00) -748.0% -363.4% -118.5% -121.7% -140.2%1999 1,800.00 0.00 69.00 (69.00) -3.8% -597.5% -322.7% -113.9% -117.4%2000 29,195.30 0.00 359,169.00 (359,169.00) -1230.2% -1159.0% -1082.4% -910.3% -557.3%2001 216,119.10 0.00 228,703.00 (228,703.00) -105.8% -239.6% -237.9% -252.2% -244.7%2002 0.00 3,500.00 163,947.00 (160,447.00) NA -180.1% -305.0% -302.9% -315.3%2003 68,721.30 0.00 20,446.00 (20,446.00) -29.8% -263.2% -143.8% -244.8% -243.4%2004 343,529.98 2,343.21 65,771.00 (63,427.79) -18.5% -20.3% -59.3% -75.3% -126.6%2005 219,804.53 0.00 0.00 0.00 0.0% -11.3% -13.3% -38.7% -55.8%2006 353,461.83 72.99 10,152.00 (10,079.01) -2.9% -1.8% -8.0% -9.5% -25.8%2007 40,654.56 1,452.83 32.45 1,420.38 3.5% -2.2% -1.4% -7.5% -9.0%
71
Account 368.0 Compressor Station Equipment
This account includes any salvage and removal cost related to compressor
station equipment used in connection with transmission operations. The authorized
net salvage rate for this account is negative 1 percent. Significant retirements
occurred in the earlier years, whereas more recent years have smaller retirements.
For these reasons focus is on the full fifteen year band which yields a the net
salvage percent of negative 10 percent This study recommends moving from the
approved negative 1 percent net salvage rate to negative 10 percent net salvage for
this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 368 Compressor Station Equipment 1993 539,285.00 0.00 180,751.00 (180,751.00) -33.5% 1994 1,599,219.00 1,045.00 65,754.00 (64,709.00) -4.0% -11.5% 1995 0.00 (4,812.00) 61,002.00 (65,814.00) NA -8.2% -14.6% 1996 0.00 92,877.00 0.00 92,877.00 NA NA -2.4% -10.2% 1997 82,654.80 282.00 17,174.00 (16,892.00) -20.4% 91.9% 12.3% -3.2% -10.6%1998 72,000.00 130,698.00 158,079.00 (27,381.00) -38.0% -28.6% 31.4% -11.1% -4.7%1999 2,918,766.80 2,378.00 64,950.00 (62,572.00) -2.1% -3.0% -3.5% -0.5% -2.6%2000 95,905.00 0.00 773.00 (773.00) -0.8% -2.1% -2.9% -3.4% -0.5%2001 0.00 0.00 0.00 0.00 NA -0.8% -2.1% -2.9% -3.4%2002 0.00 0.00 8,750.00 (8,750.00) NA NA -9.9% -2.4% -3.2%2003 446,808.94 0.00 30,418.76 (30,418.76) -6.8% -8.8% -8.8% -7.4% -3.0%2004 42,274.40 0.00 118,870.53 (118,870.53) -281.2% -30.5% -32.3% -32.3% -27.1%2005 18,529.37 0.00 64,613.96 (64,613.96) -348.7% -301.8% -42.1% -43.9% -43.9%2006 157,135.52 0.00 49,118.04 (49,118.04) -31.3% -64.7% -106.7% -39.6% -40.9%2007 121,989.56 10,127.00 33,860.15 (23,733.15) -19.5% -26.1% -46.2% -75.4% -36.4%
72
Account 369.0 Measuring & Regulating Equipment
This account includes any salvage and removal cost related to measuring and
regulating station equipment used in connection with transmission operations. The
authorized net salvage rate for this account is negative 6 percent. The five year
average net salvage is negative 36 percent, and the full fifteen year band average
net salvage percent is negative 35 percent. This study recommends moving from
the approved negative 6 percent net salvage rate to negative 35 percent net salvage
for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 369 Measuring and Regulating Equipment 1993 18,377.00 0.00 9,759.00 (9,759.00) -53.1% 1994 42,340.00 0.00 16,109.00 (16,109.00) -38.0% -42.6% 1995 30,704.00 0.00 13,717.00 (13,717.00) -44.7% -40.8% -43.3% 1996 83,441.00 2,019.00 5,023.00 (3,004.00) -3.6% -14.6% -21.0% -24.4% 1997 199,306.60 3,658.00 10,768.00 (7,110.00) -3.6% -3.6% -7.6% -11.2% -13.3%1998 21,068.30 1,962.00 64,032.00 (62,070.00) -294.6% -31.4% -23.8% -25.7% -27.1%1999 57,512.50 4,696.00 29,323.00 (24,627.00) -42.8% -110.3% -33.8% -26.8% -28.2%2000 314,108.80 43.00 67,654.00 (67,611.00) -21.5% -24.8% -39.3% -27.3% -24.3%2001 67,742.31 0.00 72,591.00 (72,591.00) -107.2% -36.7% -37.5% -49.3% -35.5%2002 53,350.00 146.00 0.00 146.00 0.3% -59.8% -32.2% -33.4% -44.1%2003 372,537.60 0.00 54,650.47 (54,650.47) -14.7% -12.8% -25.7% -24.1% -25.3%2004 255,209.77 249.80 72,839.11 (72,589.31) -28.4% -20.3% -18.7% -26.7% -25.1%2005 63,915.83 0.00 33,816.65 (33,816.65) -52.9% -33.3% -23.3% -21.6% -28.7%2006 1,365,787.77 0.00 509,801.73 (509,801.73) -37.3% -38.0% -36.6% -32.6% -31.8%2007 94,139.94 1,452.83 107,608.73 (106,155.90) -112.8% -42.2% -42.6% -40.6% -36.1%
73
Account 370.0 Communication Equipment
This account includes any salvage and removal cost related to
communication equipment used in connection with transmission operations. The
authorized net salvage rate for this account is negative 1 percent. The six year
average net salvage rate is negative 1.7 percent, and there is consistency in recent
bands of a small negative net salvage. This study recommends moving from the
approved negative 1 percent net salvage rate to negative 2 percent net salvage for
this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 370 Communication Equipment 1993 30,177.00 0.00 1,835.00 (1,835.00) -6.1% 1994 0.00 0.00 1,414.00 (1,414.00) NA -10.8% 1995 2,000.00 0.00 549.00 (549.00) -27.5% -98.2% -11.8% 1996 32,672.00 19.00 43.00 (24.00) -0.1% -1.7% -5.7% -5.9% 1997 31,965.50 65.00 1,618.00 (1,553.00) -4.9% -2.4% -3.2% -5.3% -5.6%1998 3,234.30 0.00 25,609.00 (25,609.00) -791.8% -77.2% -40.1% -39.7% -41.7%1999 6,508.10 0.00 784.00 (784.00) -12.0% -270.9% -67.0% -37.6% -37.3%2000 1,717,718.30 29.00 0.00 29.00 0.0% 0.0% -1.5% -1.6% -1.6%2001 0.00 0.00 16,054.00 (16,054.00) NA -0.9% -1.0% -2.5% -2.5%2002 0.00 0.00 7,830.00 (7,830.00) NA NA -1.4% -1.4% -2.9%2003 879,867.93 0.00 6,806.13 (6,806.13) -0.8% -1.7% -3.5% -1.2% -1.2%2004 966,190.34 0.00 15,290.04 (15,290.04) -1.6% -1.2% -1.6% -2.5% -1.3%2005 879,867.93 0.00 19,036.46 (19,036.46) -2.2% -1.9% -1.5% -1.8% -2.4%2006 116,850.31 0.00 102.27 (102.27) -0.1% -1.9% -1.8% -1.5% -1.7%2007 0.00 1,452.82 8,338.01 (6,885.19) NA -6.0% -2.6% -2.1% -1.7%
74
Account 371.0 Other Equipment
This account includes any salvage and removal cost related to other
equipment used in connection with transmission operations. The authorized net
salvage rate for this account is negative 1 percent. This account has experienced
very small removal cost in the last three years. This study recommends moving
from the approved negative 1 percent net salvage rate to 0 percent net salvage for
this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 371 Other Equipment 1993 9,054.00 1,034.00 0.00 1,034.00 11.4% 1994 19,187.00 0.00 804.00 (804.00) -4.2% 0.8% 1995 0.00 0.00 504.00 (504.00) NA -6.8% -1.0% 1996 120,763.00 0.00 5,037.00 (5,037.00) -4.2% -4.6% -4.5% -3.6% 1997 7,065.70 0.00 6,602.00 (6,602.00) -93.4% -9.1% -9.5% -8.8% -7.6%1998 0.00 0.00 0.00 0.00 NA -93.4% -9.1% -9.5% -8.8%1999 5,038.80 0.00 0.00 0.00 0.0% 0.0% -54.5% -8.8% -9.1%2000 0.00 0.00 0.00 0.00 NA 0.0% 0.0% -54.5% -8.8%2001 0.00 0.00 (61.00) 61.00 NA NA 1.2% 1.2% -54.0%2002 0.00 0.00 886.00 (886.00) NA NA NA -16.4% -16.4%2003 21,046.60 28,191.62 24,114.64 4,076.98 19.4% 15.2% 15.5% 15.5% 12.5%2004 0.00 0.00 1,568.29 (1,568.29) NA 11.9% 7.7% 8.0% 8.0%2005 0.00 0.00 524.96 (524.96) NA NA 9.4% 5.2% 5.5%2006 344,434.28 0.00 0.00 0.00 0.0% -0.2% -0.6% 0.5% 0.3%2007 95,934.25 0.00 0.00 0.00 0.0% 0.0% -0.1% -0.5% 0.4%
75
Distribution Function
Account 374.2 Rights of Way
This account includes any salvage and removal cost related to land rights
used in connection with distribution operations. Generally, little or no removal cost is
incurred and no salvage is received at the retirement of land rights. The historical
data also supports a 0% net salvage for these accounts. Therefore, this study
recommends retaining the approved 0% net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 374.2 Rights of Way 1993 0.00 0.00 0.00 0.00 NA 1994 0.00 0.00 0.00 0.00 NA NA 1995 0.00 0.00 0.00 0.00 NA NA NA 1996 0.00 0.00 0.00 0.00 NA NA NA NA 1997 0.00 0.00 0.00 0.00 NA NA NA NA NA1998 0.00 0.00 0.00 0.00 NA NA NA NA NA1999 6,537.70 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%2000 0.00 0.00 0.00 0.00 NA 0.0% 0.0% 0.0% 0.0%2001 0.00 0.00 0.00 0.00 NA NA 0.0% 0.0% 0.0%2002 0.00 0.00 0.00 0.00 NA NA NA 0.0% 0.0%2003 0.00 0.00 0.00 0.00 NA NA NA NA 0.0%2004 0.00 0.00 0.00 0.00 NA NA NA NA NA2005 96.39 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%2006 0.00 0.00 0.00 0.00 NA 0.0% 0.0% 0.0% 0.0%2007 0.00 0.00 0.00 0.00 NA NA 0.0% 0.0% 0.0%
76
Account 375.0 Structures and Improvements
This account consists of any salvage and removal cost related to small
structures and associated assets on the distribution system. The Commission has
authorized a negative 17 percent net salvage rate for this account. The recent
experience reflect a slightly more negative 24 to negative 35 percent net salvage for
the three and five year bands, respectively. Since there have only been retirements
in recent years during the last four years, the three year band and four year bands
are given added weight. Therefore, this study recommends moving from the
approved negative 17 percent net salvage to negative 25 percent net salvage.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 375 Structures and Improvements 1993 36,257.00 0.00 6,425.00 (6,425.00) -17.7% 1994 76,678.00 0.00 7,488.00 (7,488.00) -9.8% -12.3% 1995 1,621.00 398.00 16,767.00 (16,369.00) -1009.8% -30.5% -26.4% 1996 16,471.00 0.00 3,156.00 (3,156.00) -19.2% -107.9% -28.5% -25.5% 1997 1,985.80 0.00 776.00 (776.00) -39.1% -21.3% -101.1% -28.7% -25.7%1998 9,837.60 0.00 4,115.00 (4,115.00) -41.8% -41.4% -28.4% -81.6% -29.9%1999 0.00 0.00 0.00 0.00 NA -41.8% -41.4% -28.4% -81.6%2000 4,391.10 0.00 46.00 (46.00) -1.0% -1.0% -29.2% -30.4% -24.8%2001 0.00 33.00 3,241.00 (3,208.00) NA -74.1% -74.1% -51.8% -50.2%2002 0.00 51.00 3,126.00 (3,075.00) NA NA -144.1% -144.1% -73.4%2003 0.00 0.00 1,570.06 (1,570.06) NA NA NA -179.9% -179.9%2004 17,686.02 0.00 11,684.83 (11,684.83) -66.1% -74.9% -92.3% -110.5% -88.7%2005 9,165.55 0.00 7,378.36 (7,378.36) -80.5% -71.0% -76.8% -88.3% -100.2%2006 46,394.83 0.00 3,004.57 (3,004.57) -6.5% -18.7% -30.1% -32.3% -36.5%2007 6,876.39 0.00 4,380.21 (4,380.21) -63.7% -13.9% -23.6% -33.0% -35.0%
77
Account 376 Mains (Including all Mains types)
This account consists of any salvage and removal cost related to Mains of all
material types. There are five sub accounts within this account: 376.01 Mains –
bare steel, 376.02 Mains – coated & wrapped steel, 376.03 Mains – cast iron,
376.04 Mains – copper, and 376.05 Mains – plastic. The authorized net salvage
rate for this account is negative 105 percent. The net salvage experienced in this
account has generally been decreasing since 2002 due in part to an accounting
effort to better clarify the determination of Operation and Maintenance expense and
Removal Cost for this account. The overall net salvage experience of mains is
influenced by the younger retirement of plastic mains. The retirement weighted five-
year average for this account is negative 78 percent, and the retirement weighted
three year average is negative 75 percent. Based on this three-year weighted net
salvage data, this study recommends changing the net salvage rate to negative 75
percent from the existing negative 105 percent.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Roll-up Account 376 Mains
1993 1,974,936.00 12,827.00 1,427,970.00 (1,415,143.00) -71.7% 1994 987,623.00 5,409.00 1,091,514.00 (1,086,105.00) -110.0% -84.4% 1995 1,067,447.00 4,699.00 1,384,453.00 (1,379,754.00) -129.3% -120.0% -96.3% 1996 901,215.00 5,366.00 1,203,898.00 (1,198,532.00) -133.0% -131.0% -124.0% -103.0% 1997 770,001.60 2,524.00 1,078,804.00 (1,076,280.00) -139.8% -136.1% -133.4% -127.2% -108.0%1998 516,173.90 1,405.00 953,205.00 (951,800.00) -184.4% -157.7% -147.5% -141.5% -134.2%1999 771,552.40 385.00 1,222,587.00 (1,222,202.00) -158.4% -168.8% -158.0% -150.4% -144.8%2000 1,088,211.60 0.00 1,528,325.00 (1,528,325.00) -140.4% -147.9% -155.8% -151.9% -147.7%2001 1,174,170.80 58.00 1,663,448.00 (1,663,390.00) -141.7% -141.1% -145.5% -151.1% -149.1%2002 1,304,279.30 0.00 1,297,295.00 (1,297,295.00) -99.5% -119.5% -125.9% -131.6% -137.3%2003 1,426,112.31 0.00 1,189,753.68 (1,189,753.68) -83.4% -91.1% -106.3% -113.7% -119.7%2004 1,329,300.96 0.00 1,087,885.51 (1,087,885.51) -81.8% -82.7% -88.1% -100.1% -107.0%2005 1,372,964.32 1,634.69 1,256,628.55 (1,254,993.86) -91.4% -86.7% -85.6% -88.9% -98.3%2006 2,098,013.74 3,072.82 1,265,524.64 (1,262,451.82) -60.2% -72.5% -75.1% -77.0% -80.9%2007 1,444,177.42 27,986.04 1,233,305.09 (1,205,319.05) -83.5% -69.7% -75.7% -77.0% -78.2%
78
Account 378.0 Measuring & Regulating Station Equipment
This account includes any salvage and removal cost related to installed
equipment used in regulating gas at entry points to the distribution system. The
currently authorized net salvage is negative 25 percent. As shown below, the five
year average is a more negative 32 percent. This study recommends moving from
the currently approved negative 25 percent net salvage rate to a negative 32 percent
net salvage.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 378 Measuring and Regulating Equipment 1993 257,966.00 0.00 52,421.00 (52,421.00) -20.3% 1994 640,776.00 34,414.00 102,089.00 (67,675.00) -10.6% -13.4% 1995 158,819.00 7,796.00 92,733.00 (84,937.00) -53.5% -19.1% -19.4% 1996 352,071.00 0.00 48,331.00 (48,331.00) -13.7% -26.1% -17.4% -18.0% 1997 116,355.30 5,000.00 43,323.00 (38,323.00) -32.9% -18.5% -27.4% -18.9% -19.1%1998 149,696.20 0.00 24,734.00 (24,734.00) -16.5% -23.7% -18.0% -25.3% -18.6%1999 143,148.10 4,089.00 63,661.00 (59,572.00) -41.6% -28.8% -30.0% -22.5% -27.8%2000 215,835.30 1,100.00 23,466.00 (22,366.00) -10.4% -22.8% -21.0% -23.2% -19.8%2001 57,263.20 453.00 127,272.00 (126,819.00) -221.5% -54.6% -50.2% -41.3% -39.8%2002 24,923.04 3,694.00 100,115.00 (96,421.00) -386.9% -271.6% -82.4% -69.2% -55.8%2003 174,114.27 0.00 130,116.03 (130,116.03) -74.7% -113.8% -137.9% -79.6% -70.7%2004 618,960.33 0.00 52,088.40 (52,088.40) -8.4% -23.0% -34.1% -46.3% -39.2%2005 327,966.04 0.00 231,542.69 (231,542.69) -70.6% -30.0% -36.9% -44.5% -52.9%2006 693,727.58 (1,315.57) 68,841.38 (70,156.95) -10.1% -29.5% -21.6% -26.7% -31.5%2007 325,622.18 22,457.00 232,162.01 (209,705.01) -64.4% -27.5% -38.0% -28.7% -32.4%
79
Account 380 Services (Including all Services types)
This account includes any salvage and removal cost related to services
related to distribution operations. Service lines are the pipes and accessories
leading from the main to the customers’ premises. The authorized net salvage rate
for this account is negative 168 percent. Generally, pipe is abandoned in place.
However, removal cost is still incurred even when abandoning the pipe in place.
For pipe that is being replaced, activities such as isolating the old pipe, cutting the
old pipe, purging or foaming the old pipe and capping the old pipe are charged as
removal costs. When the pipe is not being replaced, in addition to the above
activities, dispatching a crew, uncovering the pipe, recovering the hole and repairing
the surface are additional activities charged to removal cost.
One significant adjustment was made to the retirements in this account. In
2000, the Company retired $11.1 million in risers that were inadvertently not retired
at the time of a change in property units in the mid 1980s. This $11.1 million was
reflected in the year the retirement should have been made.
The trend seen in the historical data over the last few years has been toward
a less negative removal cost. This is based at least in part on the accounting efforts
to better clarify the determination of Operation & Maintenance and Removal Cost in
2000 and 2001. As with Mains, the overall net salvage experience of Services is
influenced by the younger retirement of newer plastic services. The retirement
weighted five-year average for this account is negative 161percent, while the three-
year average is negative 149 percent. The current year net salvage is negative 142
percent. Due to the trend of decreasing net salvage experienced in the last few
years, this study recommends projecting this downward trend by moving from the
approved negative 168 percent to a negative 130 percent net salvage.
80
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Roll-up Account 380 Services 1993 3,436,578.36 328,285.00 4,894,246.00 (4,565,961.00) -132.9% 1994 2,690,182.55 206,909.00 7,339,047.00 (7,132,138.00) -265.1% -190.9% 1995 2,906,160.90 165,662.00 6,783,676.00 (6,618,014.00) -227.7% -245.7% -202.8% 1996 2,657,063.48 126,363.00 6,746,519.00 (6,620,156.00) -249.2% -238.0% -246.8% -213.3% 1997 2,354,377.70 16,180.00 6,549,592.00 (6,533,412.00) -277.5% -262.5% -249.7% -253.6% -224.1%1998 2,923,301.35 2,972.00 6,721,168.00 (6,718,196.00) -229.8% -251.1% -250.4% -244.4% -248.5%1999 3,290,677.72 296.00 6,822,358.00 (6,822,062.00) -207.3% -217.9% -234.3% -237.8% -235.7%2000 3,391,227.25 0.00 5,403,603.00 (5,403,603.00) -159.3% -183.0% -197.2% -213.0% -219.6%2001 1,906,669.30 63.00 4,261,658.00 (4,261,595.00) -223.5% -182.4% -192.0% -201.6% -214.5%2002 1,668,088.80 0.00 4,046,578.00 (4,046,578.00) -242.6% -232.4% -196.8% -200.2% -206.8%2003 1,983,157.57 0.00 3,774,711.43 (3,774,711.43) -190.3% -214.2% -217.4% -195.4% -198.6%2004 2,363,151.53 0.00 4,167,360.62 (4,167,360.62) -176.3% -182.7% -199.3% -205.2% -191.4%2005 2,600,864.10 723.31 4,028,769.65 (4,028,046.34) -154.9% -165.1% -172.3% -185.9% -192.7%2006 2,606,191.57 1,114.18 3,951,920.80 (3,950,806.62) -151.6% -153.2% -160.4% -166.7% -177.9%2007 2,754,480.99 0.00 3,922,473.00 (3,922,473.00) -142.4% -146.9% -149.5% -155.6% -161.2%
81
Account 381.0 Meters
This account includes any salvage and removal cost related to meters used in
measuring gas to residential customers. The currently authorized net salvage rate is
0 percent. A meter move-out program (moving inside meters to outside locations)
over the last several years has increased the level of retirements seen in this
account. In the last few years, salvage for meters has been experienced in this
account. Over the last five years, the average net salvage has been 15.1 percent.
Therefore, this study recommends moving from the approved 0 percent net salvage
to a positive 15 percent net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 381 Meters 1993 1,074,390.00 8,541.00 0.00 8,541.00 0.8% 1994 971,282.00 33,330.00 0.00 33,330.00 3.4% 2.0% 1995 582,282.00 2,963.00 0.00 2,963.00 0.5% 2.3% 1.7% 1996 612,930.50 7,067.00 0.00 7,067.00 1.2% 0.8% 2.0% 1.6% 1997 678,142.70 107.00 0.00 107.00 0.0% 0.6% 0.5% 1.5% 1.3%1998 353,730.10 60.00 0.00 60.00 0.0% 0.0% 0.4% 0.5% 1.4%1999 766,291.10 16.00 0.00 16.00 0.0% 0.0% 0.0% 0.3% 0.3%2000 1,475,519.60 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.2%2001 1,941,659.60 2.00 0.00 2.00 0.0% 0.0% 0.0% 0.0% 0.0%2002 1,552,713.10 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%2003 2,208,939.14 35,749.51 0.00 35,749.51 1.6% 1.0% 0.6% 0.5% 0.5%2004 1,453,443.96 198,843.80 0.00 198,843.80 13.7% 6.4% 4.5% 3.3% 2.7%2005 1,681,846.57 311,648.13 0.00 311,648.13 18.5% 16.3% 10.2% 7.9% 6.2%2006 1,934,560.76 292,320.29 0.00 292,320.29 15.1% 16.7% 15.8% 11.5% 9.5%2007 2,504,588.67 639,645.95 0.00 639,645.95 25.5% 21.0% 20.3% 19.0% 15.1%
82
Account 382.0 Meter Station Installation/ Account 383.0 House Regulators
Account 382 includes any salvage and removal cost related to meter stations
(excluding regulators). Account 383 includes any salvage and removal cost related
to regulators. Most of the removal cost related to meter installations and house
regulators appear to have been charged to the meter installation. For this reason,
the two accounts were combined for net salvage analysis. The currently authorized
net salvage percents for 382 and 383 are negative 76 percent and negative 4
percent respectively. Net salvage has been consistent over recent years with the
three- and five-year average net salvage for this account being a negative 67
percent. This study recommends moving net salvage for both accounts from the
current levels to negative 67 percent net salvage for both accounts.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. %
Account 382 and 383 Meter Installations & House Regulators
1993 749,416.00 44,693.00 387,693.00 (343,000.00) -45.8% 1994 555,263.00 36,241.00 386,976.00 (350,735.00) -63.2% -53.2% 1995 639,031.00 9,699.00 277,258.00 (267,559.00) -41.9% -51.8% -49.5% 1996 549,002.00 (2,198.00) 297,882.00 (300,080.00) -54.7% -47.8% -52.7% -50.6% 1997 379,210.90 54,127.00 398,521.00 (344,394.00) -90.8% -69.4% -58.2% -59.5% -55.9%1998 418,602.60 7,059.00 237,609.00 (230,550.00) -55.1% -72.1% -65.0% -57.5% -58.8%1999 527,273.60 (595.00) 352,184.00 (352,779.00) -66.9% -61.7% -70.0% -65.5% -59.5%2000 557,759.90 0.00 540,125.00 (540,125.00) -96.8% -82.3% -74.7% -78.0% -72.7%2001 693,546.10 14.00 624,946.00 (624,932.00) -90.1% -93.1% -85.3% -79.6% -81.2%2002 826,751.60 302.00 683,774.00 (683,472.00) -82.7% -86.1% -89.0% -84.5% -80.4%2003 962,332.71 0.00 907,177.21 (907,177.21) -94.3% -88.9% -89.2% -90.6% -87.1%2004 1,310,096.64 0.00 597,221.68 (597,221.68) -45.6% -66.2% -70.6% -74.2% -77.1%2005 1,666,521.26 0.00 888,449.68 (888,449.68) -53.3% -49.9% -60.7% -64.6% -67.8%2006 1,457,656.65 0.00 997,742.01 (997,742.01) -68.4% -60.4% -56.0% -62.8% -65.5%2007 1,588,715.07 0.00 1,270,030.50 (1,270,030.50) -79.9% -74.4% -67.0% -62.3% -66.7%
83
GENERAL PLANT
Account 389.2 Rights of Way
This account includes any salvage and removal cost related to land rights
used in connection with general utility operations. The currently authorized net
salvage rate for this account is negative 0 percent. Generally, little or no removal
cost is incurred and no salvage is received at the retirement of land rights.
Therefore, this study recommends retaining the approved 0% net salvage for this
account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 389.2 Rights of Way 1993 0.00 0.00 0.00 0.00 NA 1994 0.00 0.00 0.00 0.00 NA NA 1995 0.00 0.00 0.00 0.00 NA NA NA 1996 0.00 0.00 0.00 0.00 NA NA NA NA 1997 0.00 0.00 0.00 0.00 NA NA NA NA NA1998 0.00 0.00 0.00 0.00 NA NA NA NA NA1999 0.00 0.00 0.00 0.00 NA NA NA NA NA2000 0.00 0.00 0.00 0.00 NA NA NA NA NA2001 0.00 0.00 0.00 0.00 NA NA NA NA NA2002 0.00 0.00 0.00 0.00 NA NA NA NA NA2003 0.00 0.00 0.00 0.00 NA NA NA NA NA2004 0.00 0.00 0.00 0.00 NA NA NA NA NA2005 0.00 0.00 0.00 0.00 NA NA NA NA NA2006 0.00 0.00 0.00 0.00 NA NA NA NA NA2007 0.00 0.00 0.00 0.00 NA NA NA NA NA
84
Account 390.0 Structures and Improvements
This account includes any salvage and removal cost related to structures and
improvements used for general utility operations. The currently authorized net
salvage rate for this account is negative 10 percent. The large removal cost in 2005
is related to the replacement of service center roofing. With that transaction, the five
year average net salvage rate is 85 percent. If that transaction is removed as not
typical of the remaining investment, the five-year average net salvage is negative 27
percent. Most of the salvage is interim, not associated with the final demolition of a
building. Cost of removal has been exceeding the authorized negative 10 percent
over most periods. This study recommends moving from the approved negative 10
percent net salvage rate to negative 25 percent net salvage for this account and
reexamining this account in the next depreciation study.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 390 General Structures and Improvements 1993 78,342.00 0.00 (35,220.00) 35,220.00 45.0% 1994 110,525.00 0.00 76,369.00 (76,369.00) -69.1% -21.8% 1995 0.00 0.00 78,763.00 (78,763.00) NA -140.4% -63.5% 1996 0.00 0.00 19,808.00 (19,808.00) NA NA -158.3% -74.0% 1997 0.00 0.00 72,255.00 (72,255.00) NA NA NA -223.7% -112.2%1998 113,857.90 0.00 444,243.00 (444,243.00) -390.2% -453.6% -471.0% -540.2% -308.2%1999 0.00 0.00 27,685.00 (27,685.00) NA -414.5% -477.9% -495.3% -564.5%2000 43,234.13 0.00 28,089.00 (28,089.00) -65.0% -129.0% -318.3% -364.3% -376.9%2001 78,250.60 0.00 27,306.00 (27,306.00) -34.9% -45.6% -68.4% -224.1% -254.8%2002 13,868.56 0.00 70,211.00 (70,211.00) -506.3% -105.9% -92.8% -113.3% -239.8%2003 57,448.70 0.00 8,831.62 (8,831.62) -15.4% -110.8% -71.1% -69.7% -84.1%2004 0.00 0.00 3,684.57 (3,684.57) NA -21.8% -116.0% -73.6% -71.6%2005 338,084.02 0.00 302,527.52 (302,527.52) -89.5% -90.6% -79.7% -94.1% -84.6%2006 170,359.46 0.00 77,821.17 (77,821.17) -45.7% -74.8% -75.5% -69.4% -79.9%2007 440.25 0.00 122,519.00 (122,519.00) -27829.4% -117.3% -98.8% -99.5% -91.0%
85
Account 391.0 Office Furniture and Equipment
This account includes any salvage and removal cost related to miscellaneous
office furniture such as desks, chairs, filing cabinets, and tables. The currently
authorized net salvage rate for this account is 0 percent. The Company received
approximately $78.6 thousand in salvage in 2005 for a one-time event. This salvage
is not considered representative of ongoing activities and has been excluded from
the analysis. The Company has experienced little other net salvage based on recent
experience. Therefore this study recommends remaining at the approved 0 percent
net salvage rate for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 391 Office Furniture and Fixtures 1993 413.00 0.00 0.00 0.00 0.0% 1994 195,903.00 0.00 0.00 0.00 0.0% 0.0% 1995 19,018.00 0.00 0.00 0.00 0.0% 0.0% 0.0% 1996 1,476,533.00 2,618.00 8,511.00 (5,893.00) -0.4% -0.4% -0.3% -0.3% 1997 0.00 0.00 0.00 0.00 NA -0.4% -0.4% -0.3% -0.3%1998 4,247.80 3,843.00 0.00 3,843.00 90.5% 90.5% -0.1% -0.1% -0.1%1999 0.00 0.00 0.00 0.00 NA 90.5% 90.5% -0.1% -0.1%2000 110,221.23 0.00 0.00 0.00 0.0% 0.0% 3.4% 3.4% -0.1%2001 1,715.00 0.00 0.00 0.00 0.0% 0.0% 0.0% 3.3% 3.3%2002 0.00 0.00 0.00 0.00 NA 0.0% 0.0% 0.0% 3.3%2003 129,648.95 0.00 129.74 (129.74) -0.1% -0.1% -0.1% -0.1% -0.1%2004 16,224.54 56.38 0.00 56.38 0.3% -0.1% -0.1% 0.0% 0.0%2005 72,117.81 0.00 0.00 0.00 0.0% 0.1% 0.0% 0.0% 0.0%2006 384,885.68 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%2007 221,117.59 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%
86
Account 391.2 Computer Equipment
This account includes any salvage and removal cost related to computer
equipment used in general operations. The currently authorized net salvage rate for
this account is 0 percent. Some positive net salvage has been received in recent
years. The most recent bands of eight years or longer yield a 4 percent net salvage
percent. Therefore, this study recommends moving from the approved 0 percent net
salvage rate to 4 percent net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 391.2 Computer Equipment 1993 0.00 0.00 0.00 0.00 NA 1994 108,787.00 0.00 0.00 0.00 0.0% 0.0% 1995 13,715.00 0.00 0.00 0.00 0.0% 0.0% 0.0% 1996 110,228.00 295.00 684.00 (389.00) -0.4% -0.3% -0.2% -0.2% 1997 596,180.80 23,613.00 0.00 23,613.00 4.0% 3.3% 3.2% 2.8% 2.8%1998 0.00 0.00 0.00 0.00 NA 4.0% 3.3% 3.2% 2.8%1999 189,306.10 0.00 39,228.00 (39,228.00) -20.7% -20.7% -2.0% -1.8% -1.8%2000 3,391,604.78 0.00 2,422.00 (2,422.00) -0.1% -1.2% -1.2% -0.4% -0.4%2001 169,712.38 0.00 100.00 (100.00) -0.1% -0.1% -1.1% -1.1% -0.4%2002 1,797,369.31 0.00 65.00 (65.00) 0.0% 0.0% 0.0% -0.8% -0.8%2003 568,568.62 28,365.24 236.96 28,128.28 4.9% 1.2% 1.1% 0.4% -0.2%2004 1,584,368.64 64,903.81 83.77 64,820.04 4.1% 4.3% 2.4% 2.3% 1.2%2005 1,053,981.43 0.00 2,814.02 (2,814.02) -0.3% 2.4% 2.8% 1.8% 1.7%2006 1,523,286.33 97,146.21 0.00 97,146.21 6.4% 3.7% 3.8% 4.0% 2.9%2007 54,729.30 310,356.45 0.00 310,356.45 567.1% 25.8% 15.4% 11.1% 10.4%
87
Account 393.0 Stores Equipment
This account includes any salvage and removal cost related to stores
equipment. The currently authorized net salvage rate for this account is 0 percent.
The overall fifteen year band experienced a 0 percent net salvage rate. Therefore,
this study recommends retaining the approved 0 percent net salvage for this
account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 393 Stores Equipment 1993 0.00 0.00 0.00 0.00 NA 1994 16,224.00 0.00 0.00 0.00 0.0% 0.0% 1995 6,390.00 0.00 0.00 0.00 0.0% 0.0% 0.0% 1996 113,056.00 0.00 399.00 (399.00) -0.4% -0.3% -0.3% -0.3% 1997 10,628.30 421.00 0.00 421.00 4.0% 0.0% 0.0% 0.0% 0.0%1998 0.00 0.00 0.00 0.00 NA 4.0% 0.0% 0.0% 0.0%1999 0.00 0.00 0.00 0.00 NA NA 4.0% 0.0% 0.0%2000 1,250.98 0.00 0.00 0.00 0.0% 0.0% 0.0% 3.5% 0.0%2001 1,622.43 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 3.1%2002 0.00 0.00 0.00 0.00 NA 0.0% 0.0% 0.0% 0.0%2003 0.00 0.00 0.00 0.00 NA NA 0.0% 0.0% 0.0%2004 0.00 0.00 0.00 0.00 NA NA NA 0.0% 0.0%2005 0.00 0.00 0.00 0.00 NA NA NA NA 0.0%2006 0.00 72.33 0.00 72.33 NA NA NA NA NA2007 0.00 231.08 0.00 231.08 NA NA NA NA NA
88
Account 394.0 Tools, Shop, and Garage Equipment
This account includes any salvage and removal cost related to various items
or tools used in shop and garages such as air compressors, grinders, mixers, hoists,
and cranes. The currently authorized net salvage rate for this account is 0 percent.
Except for the non-typical salvage in 2002, the company has been experiencing a
positive 3 percent net salvage for this account in the overall fifteen-year band.
Therefore, this study recommends moving from the approved 0 percent net salvage
to 3 percent net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 394 Tools, Shop, and Garage Equipment 1993 129.00 0.00 0.00 0.00 0.0% 1994 603,459.00 685.00 0.00 685.00 0.1% 0.1% 1995 56,731.00 0.00 0.00 0.00 0.0% 0.1% 0.1% 1996 658,819.00 859.00 36,362.00 (35,503.00) -5.4% -5.0% -2.6% -2.6% 1997 32,772.00 1,249.00 0.00 1,249.00 3.8% -5.0% -4.6% -2.5% -2.5%1998 17,530.30 15,859.00 0.00 15,859.00 90.5% 34.0% -2.6% -2.4% -1.3%1999 8,327.10 0.00 472.00 (472.00) -5.7% 59.5% 28.4% -2.6% -2.4%2000 20,117.30 0.00 14.00 (14.00) -0.1% -1.7% 33.4% 21.1% -2.6%2001 16,203.80 1,122.00 0.00 1,122.00 6.9% 3.1% 1.4% 26.5% 18.7%2002 37,181.16 24,621.00 0.00 24,621.00 66.2% 48.2% 35.0% 30.9% 41.4%2003 85,818.21 5,825.60 27.04 5,798.56 6.8% 24.7% 22.7% 19.8% 18.5%2004 83,648.18 2,006.07 253.73 1,752.34 2.1% 4.5% 15.6% 14.9% 13.7%2005 30,563.81 7,561.19 605.27 6,955.92 22.8% 7.6% 7.3% 16.5% 15.9%2006 18,831.27 3,086.24 0.00 3,086.24 16.4% 20.3% 8.9% 8.0% 16.5%2007 39,490.88 17,535.00 0.00 17,535.00 44.4% 35.4% 31.0% 17.0% 13.6%
89
Account 395.0 Laboratory Equipment
This account includes any salvage and removal cost related to laboratory
equipment. The currently authorized net salvage rate for this account is 0 percent.
The Company is experiencing a slightly positive 2 percent net salvage in this
account for the overall fifteen-year band. Therefore, this study recommends moving
from the approved 0 percent net salvage to 2 percent net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 395 Laboratory Equipment 1993 0.00 0.00 0.00 0.00 NA 1994 116,605.00 0.00 0.00 0.00 0.0% 0.0% 1995 0.00 0.00 0.00 0.00 NA 0.0% 0.0% 1996 675,520.00 1,471.00 4,899.00 (3,428.00) -0.5% -0.5% -0.4% -0.4% 1997 0.00 0.00 0.00 0.00 NA -0.5% -0.5% -0.4% -0.4%1998 0.00 0.00 0.00 0.00 NA NA -0.5% -0.5% -0.4%1999 0.00 0.00 0.00 0.00 NA NA NA -0.5% -0.5%2000 0.00 0.00 0.00 0.00 NA NA NA NA -0.5%2001 12,513.69 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%2002 1,728.03 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%2003 8,967.65 132.83 0.00 132.83 1.5% 1.2% 0.6% 0.6% 0.6%2004 98,399.33 363.26 0.00 363.26 0.4% 0.5% 0.5% 0.4% 0.4%2005 71,877.20 2,465.48 0.00 2,465.48 3.4% 1.7% 1.7% 1.6% 1.5%2006 84,855.93 6,531.40 0.00 6,531.40 7.7% 5.7% 3.7% 3.6% 3.6%2007 51,865.24 20,866.10 0.00 20,866.10 40.2% 20.0% 14.3% 9.8% 9.6%
90
Account 396.0 Power Operated Equipment
This account includes any salvage and removal cost related to bulldozers, forklifts,
trenchers, and other power operated equipment that cannot be licensed on
roadways. The currently authorized net salvage rate for this account is 0 percent.
Based on the net salvage data, this study recommends retaining the approved 0
percent net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 396 Power Operated Equipment 1993 0.00 24,643.00 0.00 24,643.00 NA 1994 132.00 29,696.00 0.00 29,696.00 22497.0% 41165.9% 1995 2,743.00 1,188.00 0.00 1,188.00 43.3% 1074.2% 1931.4% 1996 150,704.00 0.00 793.00 (793.00) -0.5% 0.3% 19.6% 35.6% 1997 1,005.30 0.00 0.00 0.00 0.0% -0.5% 0.3% 19.5% 35.4%1998 19,309.20 0.00 0.00 0.00 0.0% 0.0% -0.5% 0.2% 17.3%1999 0.00 0.00 0.00 0.00 NA 0.0% 0.0% -0.5% 0.2%2000 37.99 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% -0.5%2001 0.00 0.00 0.00 0.00 NA 0.0% 0.0% 0.0% 0.0%2002 0.00 0.00 0.00 0.00 NA NA 0.0% 0.0% 0.0%2003 0.00 0.00 0.00 0.00 NA NA NA 0.0% 0.0%2004 0.00 0.00 (13.45) 13.45 NA NA NA NA 35.4%2005 96,731.94 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%2006 9,242.96 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%2007 6,332.59 0.00 0.00 0.00 0.0% 0.0% 0.0% 0.0% 0.0%
91
Account 397.0 Communication Equipment
This account includes any salvage and removal cost related to miscellaneous
communication equipment such as the 800 MHz radio system. The currently
authorized net salvage rate for this account is 0 percent. The large retirement in
2001 was related to upgrading the Company’s 800 MHz radio system. The average
net salvage taking into account experience since 2001 has been approximately 2
percent. The net salvage percent for the six- to ten-year bands are 2% net salvage.
Therefore, this study recommends moving from the approved 0% net salvage to 2 %
net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 397 Communication Equipment 1993 0.00 0.00 0.00 0.00 NA 1994 44,317.00 0.00 14,804.00 (14,804.00) -33.4% -33.4% 1995 13,647.00 0.00 17,367.00 (17,367.00) -127.3% -55.5% -55.5% 1996 15,249.00 0.00 869.00 (869.00) -5.7% -63.1% -45.1% -45.1% 1997 1,513.90 60.00 8,612.00 (8,552.00) -564.9% -56.2% -88.1% -55.7% -55.7%1998 0.00 0.00 0.00 0.00 NA -564.9% -56.2% -88.1% -55.7%1999 0.00 0.00 0.00 0.00 NA NA -564.9% -56.2% -88.1%2000 17,823.87 0.00 0.00 0.00 0.0% 0.0% 0.0% -44.2% -27.2%2001 7,019,042.06 156,648.00 5,680.00 150,968.00 2.2% 2.1% 2.1% 2.1% 2.0%2002 0.00 0.00 6,102.00 (6,102.00) NA 2.1% 2.1% 2.1% 2.1%2003 0.00 0.00 6,821.75 (6,821.75) NA NA 2.0% 2.0% 2.0%2004 29,646.57 1,322.83 2,128.26 (805.43) -2.7% -25.7% -46.3% 1.9% 1.9%2005 236,380.87 8,686.27 0.00 8,686.27 3.7% 3.0% 0.4% -1.9% 2.0%2006 56,724.30 3,171.24 1,012.73 2,158.51 3.8% 3.7% 3.1% 1.0% -0.9%2007 100,357.98 10,131.27 0.00 10,131.27 10.1% 7.8% 5.3% 4.8% 3.2%
92
Account 398.0 Miscellaneous Equipment
This account includes any salvage and removal cost related to miscellaneous
equipment. The currently authorized net salvage rate for this account is 0 percent.
Little salvage or removal cost is expected for these assets. The five and six year
average net salvage rates reflect a 7 percent net salvage rate. Therefore, this study
recommends moving from the approved 0 percent net salvage rate to a 7 percent
net salvage for this account.
2- yr 3- yr 4- yr 5- yr Gross Cost of Net Net Net Net Net Net Retirements Salvage Removal Salvage Salv. % Salv. % Salv. % Salv. % Salv. % Account 398 Miscellaneous Equipment 1993 0.00 0.00 0.00 0.00 NA 1994 16,497.00 0.00 0.00 0.00 0.0% 0.0% 1995 1,184.00 0.00 0.00 0.00 0.0% 0.0% 0.0% 1996 25,906.00 0.00 71.00 (71.00) -0.3% -0.3% -0.2% -0.2%1997 0.00 0.00 0.00 0.00 NA -0.3% -0.3% -0.2% -0.2%1998 0.00 0.00 0.00 0.00 NA NA -0.3% -0.3% -0.2%1999 0.00 0.00 0.00 0.00 NA NA NA -0.3% -0.3%2000 0.00 0.00 0.00 0.00 NA NA NA NA -0.3%2001 0.00 0.00 0.00 0.00 NA NA NA NA NA2002 0.00 0.00 0.00 0.00 NA NA NA NA NA2003 33,508.12 170.41 0.00 170.41 0.5% 0.5% 0.5% 0.5% 0.5%2004 8,305.31 294.06 0.00 294.06 3.5% 1.1% 1.1% 1.1% 1.1%2005 2,191.06 0.00 0.00 0.00 0.0% 2.8% 1.1% 1.1% 1.1%2006 8,308.07 1,115.86 0.00 1,115.86 13.4% 10.6% 7.5% 3.0% 3.0%2007 21,079.31 3,565.00 0.00 3,565.00 16.9% 15.9% 14.8% 12.5% 7.0%
93
APPENDIX A
Depreciation Rate Calculations
RE
VIS
ED
Exh
ibit
A-I
(DA
W-I
)A
ppen
dix
AC
ase
No.
U-1
5629
Apr
il20
09P
age
Io
fI
CO
NS
UM
ER
SE
NE
RG
YG
AS
CO
MP
UT
AT
ION
OF
AC
CR
UA
LR
AT
EA
TD
EC
EM
BE
R3
1,2
00
7T
RA
DIT
ION
AL
NE
TS
AL
VA
GE
An
nu
al
An
nu
al
Pla
nt
InS
erv
ice
Bo
ok
De
pre
cia
tio
nN
et
Sa
lva
ge
Un
acc
rue
dR
em
ain
ing
Acc
rua
lA
ccru
al
Acco
un
t12
131/
2007
1213
1/20
07N
et
Sa
lva
ge
%A
mo
un
tB
ala
nce
Lif
eA
mo
un
tA
ccru
al
Ra
teG
35
0.2
·Rig
hts
ofW
ay
1,4
28
,66
5.9
57
75
,39
7.2
30
.00
%0
.00
65
3,2
68
.72
33
.00
19
,79
4.1
01
.39
%G
35
1.2
-Co
mp
ress
or
Sta
tion
Str
uct
ure
9,0
52
,23
4.1
64
,19
9,5
25
.96
-6.0
0%
(54
3,1
34
.05
)5
,39
5,8
42
.25
22
.40
24
0,8
67
.62
2.6
6%
G351.~Meas
&R
egS
tatio
nS
tru
ctu
re1
61
,32
9.2
01
7,6
21
.64
-6.0
0%
(9,6
79
.75
)15
3,38
7.31
40
.62
3,7
75
.86
2.3
4%
G3
51
.4-0
the
rS
tora
ge
Str
uct
ure
s3
,47
1,0
67
.16
2,1
81
,01
1.0
9-2
8.0
0%
(97
1,8
98
.80
)2
,26
1,9
54
.87
25
.18
89,8
37.1
12
.59
%G
35
2.1
-Le
ase
ho
lds
&R
ight
s6
.84
1,6
99
.67
3,4
01
,49
3.7
30
.00
%0
.00
3,4
40
,20
5.9
43
9.3
38
7,4
74
.63
1.2
8%
G352.~Weli
Co
nst
ruct
ion
44
,64
4,8
95
.04
26
,21
6,4
40
.09
-68
.00
%(3
0,3
58
,52
8.6
3)
48
,78
6,9
83
.58
32.3
11
,50
9,8
00
.37
3.3
8%
G3
52
.4-W
ell
Eq
uip
me
nt
19
,01
6,4
03
.08
12
,84
2,6
17
.51
-68
.00
%(1
2,9
31
.15
4.0
9)
19
,10
4,9
39
.66
28.4
26
72
,32
2.7
73
.54
%G353.~Lines
33
,54
1,7
11
.50
16
,68
9,3
71
.65
-50
.00
%(1
6,7
70
,85
5.7
5)
33
,62
3,1
95
.60
52.2
16
43
,99
1.9
41
.92
%G354.~Compressor
Sta
tion
Eq
uip
me
nt
82
,60
4,6
57
.86
43
,95
4,9
86
.51
-17
.00
%(1
4,0
42
,79
1.8
4)
52
,69
2,4
63
.19
21
.79
2,41
7,86
0.41
2.9
3%
G355.~Measuring
&R
eg
ula
ting
Equ
ip7
,30
1,6
08
.61
1,2
27
,89
5.0
9-1
7.0
0%
(1,2
41
,27
3.4
6)
7,3
14
,98
6.9
83
2.5
52
24
,70
8.3
23
.08
%G356.~PurificationE
qu
ipm
en
t1
8,7
15
.08
7.3
28
,08
0,8
36
.69
-28
.00
%(5
,24
0,2
24
.45
)1
5,8
74
,47
5.0
82
2.4
77
06
,33
9.4
23
.77
%G357.~Other
Sto
rag
eE
qu
ipm
en
t6
,07
5,7
81
.13
56
9,5
15
.77
-6.0
0%
(36
4.5
46
.87
)5
,87
0,8
12
.23
20.5
92
85
,15
4.6
04
.69
%G
36
5.2
-Rig
hts
of
Wa
y3
2,4
96
,95
6.6
26
,82
3,6
38
.49
0.0
0%
0.0
02
5,6
73
,31
8.1
36
1.5
94
16
,84
7.1
61
.28
%G366.~Structures
and
Imp
rove
me
nts
11
,80
5,6
43
.13
4,7
25
,49
9.4
2-2
5.0
0%
(2,9
51
,41
0.7
8)
10
,03
1,5
54
.49
39
.58
25
3,4
60
.16
2.1
5%
G367.~Mains
29
7,9
32
.83
4.7
91
10
,17
7,6
53
.87
-26
.00
%(7
7,4
62
.53
7.0
5)
26
5,2
17
,71
7.9
75
6.0
04
,73
5,7
16
.28
1.5
9%
G368.~Compressor
Sta
tion
Eq
uip
me
nt
41
,64
3.2
96
.17
23
,23
8,3
94
.89
-10
.00
%(4
,16
4,3
29
.62
)2
2,5
69
,23
0.9
02
0.3
41
,10
9,6
70
.22
2.6
6%
G369.~Measuring
&R
eg
ula
ting
Eq
uip
38
,14
7,6
66
.72
7,4
90
,53
5.1
6-3
5.0
0%
(13
,35
1.6
83
.35
)4
4,0
08
,81
4.9
13
3.9
61
,29
5,7
60
.36
3.4
0%
G370.~Communication
Eq
uip
me
nt
8,5
82
,85
4.6
63
,69
7,8
20
.55
-2.0
0%
(17
1,6
57
.09
)5
.05
6,6
91
.20
6.9
073
3,10
2.51
8.5
4%
G371.~Other
Eq
uip
me
nt
4,7
84
,59
0.8
12
,28
4,8
67
.40
0.0
0%
0.0
02,
499,
723.
412
2.6
811
0,20
9.71
2.3
0%
G3
74
.2-R
igh
tso
fW
ay
8,9
68
,96
7.2
02
,38
2,8
12
.27
0.0
0%
0.0
06
,58
6,1
54
.93
57
.05
11
5,4
52
.15
1.2
9%
G375.~Structures
and
Imp
rove
me
nts
5,3
43
.69
9.5
82
,58
4,0
57
.11
-25
.00
%(1
,33
5,9
24
.90
)4
,09
5,5
67
.37
31
.94
12
8,2
07
.10
2.4
0%
G3
76
.1-M
ain
s-
Bar
e3
,70
8,0
32
.29
5,4
51
,56
1.2
7-7
5.0
0%
(2,7
81
,02
4.2
2)
1.0
37
,49
5.2
42
6.7
038
,857
.61
1.0
5%
G3
76
.2-M
ain
s-
C&
W3
78
,31
2,2
30
.29
35
4,9
27
,02
0.1
3-7
5.0
0%
(28
3,7
34
,17
2.7
2)
30
7,1
19
,38
2.8
84
9.9
56
,14
8,9
02
.17
1.6
3%
G376.~Mains
-C
ast
Iron
8,2
34
,72
6.8
71
4,4
84
,52
1.6
0-7
5.0
0%
(6,1
76
,04
5.1
5)
-73
,74
9.5
817
.41
NA
NA
G3
76
.4-M
ain
s-
Co
pp
er
13
.12
6.4
71
9.2
50
.08
-75
.00
%(9
.84
4.8
5)
3,7
21
.24
7.4
45
00
.49
3.8
1%
G3
76
.5-M
ain
s-
Pla
stic
66
1,8
71
.95
8.8
62
99
,47
4,4
93
.12
-75
.00
%(4
96
,40
3.9
69
.15
)8
58
,80
1,4
34
.89
47
.82
17
,95
7,3
99
.33
2.7
1%
G378.~Measuring
&R
eg
ula
ting
Equ
ip4
5,7
81
,48
0.4
11
1,6
92
,29
3.2
0-3
2.0
0%
(14
,65
0.0
73
.73
)4
8,7
39
,26
0.9
44
0.8
01
,19
4,5
22
.96
2.6
1%
G38
0.I-
Se
rvic
es
-B
are
18
0,5
61
.03
21
3,9
04
.36
-13
0.0
0%
(23
4,7
29
.34
)20
1,38
6.01
9.5
42
1,1
13
.76
11
.69
%G
38
0.2
-Se
rvic
es
-C
&W
69
,41
6,9
71
.73
10
1,0
25
,47
6.9
3-1
30
.00
%(9
0,2
42
,06
3.2
5)
58
,63
3,5
58
.05
31
.14
1,8
82
,81
2.6
42
.71
%G
38
0.4
-Se
rvic
es
-C
op
pe
r2
5,3
82
,76
7.1
34
1,6
61
,21
2.6
7-1
30
.00
%(3
2,9
97
,59
7.2
7)
16
,71
9,1
51
.73
19
.12
87
4,5
79
.57
3.4
5%
G3
80
.5-S
erv
ice
s-
Pla
stic
67
1,4
43
,56
2.4
55
28
,3n
.02
0.6
8-1
30
.00
%(8
72
,87
6.6
31
.19
)1
,01
5,9
43
,17
2.9
63
3.5
33
0,3
00
,28
2-4
94
.51
%G381.~Meters
19
5,7
56
,21
2.7
18
0,5
27
,43
1.2
21
5.0
0%
29,3
63,4
31.9
18
5,8
65
,34
9.5
825
.35
3,3
87
,50
5.5
51
.73
%G382.~Meter
Inst
alla
tion
s1
89
,49
2,5
03
.04
94
,81
9,2
33
.39
-67
.00
%(1
26
,95
9,9
77
.04
)2
21
,63
3,2
46
.69
36.3
16
,10
3,8
26
.53
3.2
2%
G383.~House
Re
gu
lato
rs1
9,7
84
,57
8.8
85
,25
2,7
54
.64
-67
.00
%(1
3,2
55
,66
7.8
5)
27
.78
7,4
92
.09
31.0
18
96
,20
8.2
64
.53
%G
38
9.2
-Rig
hts
of
Wa
y1
,51
6.0
01
41
.79
0.0
0%
0.0
01,
374.
2137
.01
37
.13
2.4
5%
G390.~Structuresa
nd
Imp
rove
me
nts
27
,64
4,2
84
.06
15
,54
9,9
62
.88
-25
.00
%(6
,91
1.0
71
.02
)1
9,0
05
,39
2.2
03
3.0
057
5,94
5.31
2.0
8%
39
1.0
Off
ice
Fum
rtur
eA
ndE
qu
ipm
Tot
al1
,03
6,1
40
.26
26
2,3
26
.98
0.0
0%
0.0
07
73
,81
3.2
84
.52
171,
298.
111
6.5
3%
391.
2C
om
pu
ter
Eq
uip
me
nt
To
tal
3,7
96
.62
9.3
82
,44
2,7
31
.09
4.0
0%
15
1,8
65
.18
1,20
2,03
3.11
1.5
27
93
,37
0.3
32
0.9
0%
39
3.0
Sto
res
Eq
uip
me
nt
Tot
al5
0.8
39
.92
19,3
34.3
10
.00
%0
.00
31,5
05.6
11
0.5
52
,98
7.2
05
.88
%3
94
.0T
oo
lsS
ho
pA
nd
Ga
rag
eE
qu
ipT
otal
7,2
31
,90
3.7
41
,70
3,2
08
.26
3.0
0%
216,
957.
115
,31
1,7
38
.37
11
.64
45
6,2
26
.24
6.3
1%
395.
0L
ab
ora
tory
Eq
uip
me
ntT
oIal
82
4,7
81
.78
28
8,6
61
.43
2.0
0%
16
,49
5.6
451
9,62
4.71
4.0
21
29
,27
9.5
31
5.6
7%
G396.~Power
Ope
rate
dE
qu
ipm
en
t3
,59
6,5
50
.41
11
9,8
06
.57
0.0
0%
0.0
03
,47
6,7
43
.84
6.5
75
29
,45
7.0
91
4.7
2%
39
7.0
Co
mm
un
ica
tion
Eq
uip
me
nt
Tot
al7
,85
7,0
38
.20
3.5
85
,29
5.8
02
.00
%1
57
,14
0.7
64
,11
4,6
01
.64
5.3
07
76
.24
3.7
39
.88
%3
98
.0M
isce
llan
eo
us
Eq
uip
me
nt
To
tal
40
3,8
53
.81
14
3,8
18
.32
7.0
0%
28
,26
9.7
72
31
,76
5.7
28
.06
28.,7
69.0
77
.12
%T
otal
3,0
04
,38
3,9
00
.08
1,845,603.4~.~-L
-2,0
99
,21
0d
36
.88
3~57,990,784.12
88
.07
0.4
n.9
0
95
APPENDIX B
Depreciation Expense Comparison
CONSUMERS ENERGY COMPANY
COMPARISON OF DEPECIATION ACCRUAL RATES
BASED ON DEPRECIABLE INVESTMENT AT 12·31·07
R VI DExhibit A-I (DAW-l)Appendix BCase o. U-I5629Apri12009Page I of L
CHANGE FROM
APPROVED PROPOSED APPROVED
Annual Annual Annual AccrualPlant in Service Accrual Annual Accrual Accrual Annual Accrual Amount·
Acct Description 12131/2007 Rate Amount Rate Amount Traditional
350.2 U.GSTORAGE RIGHTS OF WAY $1,428,665.95 1.16% $16,572.53 1.39% $19,794.1C $3,221.57
351.2 COMPRESSOR STA STRUCTURE~ $9,052,234.16 2.47% $223,590.18 2.66% $240,867.62 $17,277.44
351.3 MEAS'G & REG STA STRUCT $161,329.20 2.78% $4,484.95 2.34% $3,775.86 ($709.09)
351.4 OTHER STRUCTURES $3,471,067.16 2.69% $93,371.71 2.59% $89,837.11 ($3,534.59)
352.1 U.G.S.LEASEHOLDS & RIGHTS $6,841,699.67 1.16% $79,363.72 1.28% $87,474.63 $8,110.91
352.3 WELL CONSTRUCTION $44,644,895.04 3.57% $1,593,822.75 3.38% $1,509,800.37 ($84,022.38)
352.4 WELL EQUIPMENT $19,016,40308 3.62% $688,393.79 3.54% $672,322.77 ($16,071.02)
353 LINES $33,541,711.50 3.76% $1,261,168.35 1.92% $643,991.94 ($617,176.41)
354 COMPRESSOR STA EQUIPMENT $82,604,657.86 3.04% $2,511,181.60 2.93% $2,417,860.41 ($93,321 19)
355 MEAS'G & REG STA EQUIP $7,301,608.61 2.89% $211,016.4S 308% $224,708.32 $13,691.83
356 PURIFICATION EQUIPMENT $18,715,087.32 3.77% $705,558.79 3.77% $706,339.4" $780.63
357 OTHER EQUIPMENT $6,075,781.13 3.81% $231,487.26 4.69% $285,154.60 $53,667.34
3652 RIGHTS OF WAY $32,496,956.62 1.05% $341,218.04 1.28% $416,847.16 $75,629.12
366 STRUCTURES & IMPROVEMENTS $11,805,643.13 1.23% $145,209.41 2.15% $253,460.16 $108,250.75
367 MAINS $297,932,834.79 1.45% $4,320,026.1 ( 1.59% $4,735,716.28 $415,690.18
368 COMPRESSOR STA EQUIPMENT $41,643,296.17 0.88% $366,461.01 2.66% $1,109,670.22 $743,209.22
369 MEAS'G & REG STA EQUIP $38,147,666.72 1.64% $625,621. 7~ 3.40% $1,295,760.36 $670,13862
370 COMMUNICATION EQUIPMENT $8,582,854.66 3.48% $298,683.34 8.54% $733,102.51 $434,419.17
371 OTHER EQUIPMENT $4,784,590.81 2.53% $121,050.15 2.30% $110,209.71 ($10,840.44)
3742 RIGHTS OF WAY $8,968,967.20 0.77% $69,061.05 1.29% $115,452.15 $46,391.11
375 STRUCTURES & IMPROVEMENTS $5,343,699.58 0.67% $35,802.79 2.40% $128,207.10 $92,404.31
3761 MAINS BARE $3,708,032.29 208% $77,127.07 1.05% $38,857.61 ($38,269.47)
3762 MAINS- C & W $378,312,230.29 2.45% $9,268,649.64 1.63% $6,148,902.17 ($3,119,747.47)
376.3 MAINS- CAST IRON $8,234,726.87 1.67% $137,519.94 NA $0.00 ($137,519.94)
376.4 MAINS- COPPER $13,126.47 2.61% $342.60 3.81% $500.49 $157.89
376.5 MAINS- PLASTIC $661,871,958.86 3.31% $21,907,961.84 2.71% $17,957,399.33 ($3,950,562.50)
378 PUMPING & REG EQUIPMENT $45,781,480.41 1.93% $883,582.57 2.61% $1,194,52296 $310,940.39
380.1 SERVICES- BARE $180,561.03 6.99% $12,621.2 11.69% $21,1137E $8,492.54
380.2 SERVICES- C & W $69,416,97173 5.12% $3,554,148.95 2.71% $1,882,812.64 ($1,671,336.31 )
380.4 SERVICES- COPPER $25,382,767.13 5.49% $1,393,513.9 3.45% $874,579.5/ ($518,934.35)
380.5 SERVICES- PLASTIC $671,443,562.45 6.89% $46,262,461.4! 451% $30300,282.49 ($15962,17896)
381 METERS $195,756,212.71 0.50% $978,781.0E 1.73% $3,387,50555 $2,408,724.48
382 METER,HSE REG INSTALLATNS $189,492,503.04 3.01% $5,703,724.34 3.22% $6,103,826.53 $400,102.19
383 HOUSE REGULATOR $19,784,578.88 0.99% $195,867.3: 4.53% $896,208.2E $700,340.93
389.2 RIGHTS OF WAY $1,516.00 2.50% $37.9( 2.45% $37.1: ($077)
390 STRUCTURES & IMPROVEMENTS $27,644,284.06 1.27% $351,082.41 2.08% $575,945.31 $224,862.90
391 OFFICE FURNITURE & EQUIP $1,036,140.26 17.78% $184,225.74 16.53% $171,298.11 ($12,927.62)
391.2 COMPUTER EQUIPMENT $3,796,629.38 4.80% $182,238.21 20.90% $793,370.32 $611,132.12
393 STORES EQUIPMENT $50,839.92 11.20% $5,694.07 5.88% $2,987.2C ($2,706.87)
394 TOOLS,SHOP,GARAGE EQUIP $7,231,903.74 8.74% $632,068.39 6.31% $456,226.2~ ($175,842.15)
395 LABORATORY EQUIPMENT $824,781.78 17.41% $143,594.51 15.67% $129,279.5 ($14,314.98)
396 POWER-OPERATED EQUIPMENT $3,596,550.41 28.38% $1,020,701.01 14.72% $529,457.od ($491,243.92)
397 COMMUNICATION EQUIPMENT $7,857,038.20 11.50% $903,559.3! 9.88% $776,243.7~ ($127,315.66)
398 MISCELLANEOUS EQUIPMENT $403,853.81 17.73% $71,603.28 7.12% $28,769.oi ($42,834.21)
$3,004,383,900.08 $107,814,252.58 $88,070,477 90 ($19,743,77468)
97
APPENDIX C
Depreciation Parameter Comparison
App
endi
x C
Acc
tD
escr
iptio
nPl
ant I
n Se
rvic
e
12-3
1-07
Ann
ual
Dep
r R
ate
Life
Iow
a C
urve
Net
Sa
lvag
eLi
feIo
wa
Cur
veN
et
Salv
age
Life
Net
Sa
lvag
e35
0.2
U.G
.STO
RA
GE
RIG
HTS
OF
WA
Y$1
,428
,665
.95
1.16
%65
S2
0.00
%65
R4
0.00
%0.
000.
0035
1.2
CO
MP
RE
SS
OR
STA
STR
UC
TUR
ES
$9,0
52,2
34.1
62.
47%
45R
3-6
.00%
45R
5-6
.00%
0.00
0.00
%35
1.3
ME
AS
'G &
RE
G S
TA S
TRU
CT
$161
,329
.20
2.78
%45
R3
-6.0
0%45
R3
-6.0
0%0.
000.
00%
351.
4O
THE
R S
TRU
CTU
RE
S$3
,471
,067
.16
2.69
%50
R4
-28.
00%
50R
3-2
8.00
%0.
000.
00%
352.
1U
.G.S
.LE
AS
EH
OLD
S &
RIG
HTS
$6,8
41,6
99.6
71.
16%
65S
20.
00%
65S
20.
00%
0.00
0.00
%35
2.3
WE
LL C
ON
STR
UC
TIO
N$4
4,64
4,89
5.04
3.57
%50
R4
-73.
00%
50R
4-6
8.00
%0.
005.
00%
352.
4W
ELL
EQ
UIP
ME
NT
$19,
016,
403.
083.
62%
50R
2.5
-73.
00%
48R
2-6
8.00
%(2
.00)
5.00
%35
3LI
NE
S$3
3,54
1,71
1.50
3.76
%65
S2
-140
.00%
65R
2-5
0.00
%0.
0090
.00%
354
CO
MP
RE
SS
OR
STA
EQ
UIP
ME
NT
$82,
604,
657.
863.
04%
40R
3-1
7.00
%40
R2.
5-1
7.00
%0.
000.
00%
355
ME
AS
'G &
RE
G S
TA E
QU
IP$7
,301
,608
.61
2.89
%45
R2.
5-2
2.00
%40
R3
-17.
00%
(5.0
0)5.
00%
356
PU
RIF
ICA
TIO
N E
QU
IPM
EN
T$1
8,71
5,08
7.32
3.77
%35
R5
-28.
00%
35R
4-2
8.00
%0.
000.
00%
357
OTH
ER
EQ
UIP
ME
NT
$6,0
75,7
81.1
33.
81%
30R
3-1
1.00
%30
R2.
5-6
.00%
0.00
5.00
%36
5.2
RIG
HTS
OF
WA
Y$3
2,49
6,95
6.62
1.05
%75
R3
0.00
%75
R3
0.00
%0.
000.
00%
366
STR
UC
TUR
ES
& IM
PR
OV
EM
EN
TS$1
1,80
5,64
3.13
1.23
%60
R3
-2.0
0%60
R3
-25.
00%
0.00
-23.
00%
367
MA
INS
$297
,932
,834
.79
1.45
%75
R3
-26.
00%
75R
3-2
6.00
%0.
000.
00%
368
CO
MP
RE
SS
OR
STA
EQ
UIP
ME
NT
$41,
643,
296.
170.
88%
40R
4-1
.00%
40R
3-1
0.00
%0.
00-9
.00%
369
ME
AS
'G &
RE
G S
TA E
QU
IP$3
8,14
7,66
6.72
1.64
%55
R2
-6.0
0%43
R1.
5-3
5.00
%(1
2.00
)-2
9.00
%37
0C
OM
MU
NIC
ATI
ON
EQ
UIP
ME
NT
$8,5
82,8
54.6
63.
48%
15R
4-1
.00%
13R
3-2
.00%
(2.0
0)-1
.00%
371
OTH
ER
EQ
UIP
ME
NT
$4,7
84,5
90.8
12.
53%
30L2
-1.0
0%32
L10.
0%2.
001.
00%
374.
2R
IGH
TS O
F W
AY
$8,9
68,9
67.2
00.
77%
75R
30.
00%
75R
30.
0%0.
000.
00%
375
STR
UC
TUR
ES
& IM
PR
OV
EM
EN
TS$5
,343
,699
.58
0.67
%50
S1
-17.
00%
55R
4-2
5.0%
5.00
-8.0
0%37
6.1
MA
INS
BA
RE
$3,7
08,0
32.2
92.
08%
70R
2-1
05.0
0%73
R1.
5-7
5.0%
3.00
30.0
0%37
6.2
MA
INS
- C &
W$3
78,3
12,2
30.2
92.
45%
75R
3-1
05.0
0%80
R3
-75.
0%5.
0030
.00%
376.
3M
AIN
S- C
AS
T IR
ON
$8,2
34,7
26.8
71.
67%
65S
3-1
05.0
0%63
S2
-75.
0%(2
.00)
30.0
0%37
6.4
MA
INS
- CO
PP
ER
$13,
126.
472.
61%
60R
5-1
05.0
0%42
R4
-75.
0%(1
8.00
)30
.00%
376.
5M
AIN
S- P
LAS
TIC
$661
,871
,958
.86
3.31
%60
R3
-105
.00%
60R
4-7
5.0%
0.00
30.0
0%37
8P
UM
PIN
G &
RE
G E
QU
IPM
EN
T$4
5,78
1,48
0.41
1.93
%50
L0.5
-25.
00%
50L0
.5-3
2.0%
0.00
-7.0
0%38
0.1
SE
RV
ICE
S- B
AR
E$1
80,5
61.0
36.
99%
42L0
-168
.00%
30L0
-130
.0%
(12.
00)
38.0
0%38
0.2
SE
RV
ICE
S- C
& W
$69,
416,
971.
735.
12%
56R
0.5
-168
.00%
57R
0.5
-130
.0%
1.00
38.0
0%38
0.4
SE
RV
ICE
S- C
OP
PE
R$2
5,38
2,76
7.13
5.49
%53
R1
-168
.00%
46R
1-1
30.0
%(7
.00)
38.0
0%38
0.5
SE
RV
ICE
S- P
LAS
TIC
$671
,443
,562
.45
6.89
%40
R1.
5-1
68.0
0%46
R4
-130
.0%
6.00
38.0
0%38
1M
ETE
RS
$195
,756
,212
.71
0.50
%42
S2
0.00
%41
R2.
515
.0%
(1.0
0)15
.00%
382
ME
TER
,HS
E R
EG
INS
TALL
ATN
S$1
89,4
92,5
03.0
43.
01%
52R
2.5
-76.
00%
50R
3-6
7.0%
(2.0
0)9.
00%
383
HO
US
E R
EG
ULA
TOR
$19,
784,
578.
880.
99%
55R
1-4
.00%
45R
1-6
7.0%
(10.
00)
-63.
00%
389.
2R
IGH
TS O
F W
AY
$1,5
16.0
02.
50%
50R
30.
00%
50R
30.
0%0.
000.
00%
390
STR
UC
TUR
ES
& IM
PR
OV
EM
EN
TS$2
7,64
4,28
4.06
1.27
%50
R3
-10.
00%
50R
1.5
-25.
0%0.
00-1
5.00
%39
1O
FFIC
E F
UR
NIT
UR
E &
EQ
UIP
$1,0
36,1
40.2
617
.78%
15S
Q0.
00%
15S
Q0.
0%0.
000.
00%
391.
2C
OM
PU
TER
EQ
UIP
ME
NT
$3,7
96,6
29.3
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20
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331.
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49
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28
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29
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55
29
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MIS
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69
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2.8
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4.2
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8$
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7,8
14
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2.5
8SR8,070.~7'1
QO\Q
4.6
07
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86
3m
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S.I
IJ.9
SI
~91,726,~3H7
~(~19.7~3.77~.68)
(SI
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11)
Exhibit A-6 (DAW-6)Case No. U-15629
April 2009Page 1 of 1
Asset Depreciation Expense"Purchasing Power" Recovery
$500 Initial investment
Year Straight-line Depreciation
Current Value "Purchasing Power"
(5.26%)(a) (b) (c)01 $10.00 $9.502 $10.00 $9.033 $10.00 $8.574 $10.00 $8.155 $10.00 $7.746 $10.00 $7.357 $10.00 $6.988 $10.00 $6.649 $10.00 $6.30
10 $10.00 $5.9911 $10.00 $5.6912 $10.00 $5.4113 $10.00 $5.1414 $10.00 $4.8815 $10.00 $4.6316 $10.00 $4.4017 $10.00 $4.1818 $10.00 $3.9719 $10.00 $3.7820 $10.00 $3.5921 $10.00 $3.4122 $10.00 $3.2423 $10.00 $3.0824 $10.00 $2.9225 $10.00 $2.7826 $10.00 $2.6427 $10.00 $2.5128 $10.00 $2.3829 $10.00 $2.2630 $10.00 $2.1531 $10.00 $2.0432 $10.00 $1.9433 $10.00 $1.8434 $10.00 $1.7535 $10.00 $1.6636 $10.00 $1.5837 $10.00 $1.5038 $10.00 $1.4339 $10.00 $1.3540 $10.00 $1.2941 $10.00 $1.2242 $10.00 $1.1643 $10.00 $1.1044 $10.00 $1.0545 $10.00 $1.0046 $10.00 $0.9547 $10.00 $0.9048 $10.00 $0.8549 $10.00 $0.8150 $10.00 $0.77
Total Recovery $500.00 $175.46Percent Recovery 35%
Exhibit A-7 (DAW-7)Case No. U-15629
April 2009Page 1 of 1
Calculation of Total Cost of Traditional Method Versus "Purchasing Power" MethodCurrent, Future and Nominal Value
Year Age
Traditional Removal
Cost
Purchasing Power (PP)
Removal Cost
PP Carrying Cost
Change (CC)
Cumulative PP CC Change
Future Value (FV) Traditional
RCFV PP RC
+ CC
Current Value (CV)
Traditional RC
CV PP RC + CC
Nominal Value (NV)
Traditional RC
NV PP RC + CC
(a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l)2010 1 10.00 1.53 0.85 0.85 205.84 48.87 10.00 2.37 10.00 2.372011 2 10.00 1.61 0.84 1.69 195.56 64.42 9.50 3.13 10.00 3.292012 3 10.00 1.69 0.83 2.52 185.79 78.20 9.03 3.80 10.00 4.212013 4 10.00 1.78 0.82 3.34 176.50 90.37 8.57 4.39 10.00 5.122014 5 10.00 1.87 0.81 4.15 167.68 101.05 8.15 4.91 10.00 6.032015 6 10.00 1.97 0.80 4.95 159.30 110.36 7.74 5.36 10.00 6.932016 7 10.00 2.08 0.79 5.75 151.34 118.41 7.35 5.75 10.00 7.822017 8 10.00 2.19 0.78 6.53 143.78 125.29 6.98 6.09 10.00 8.712018 9 10.00 2.30 0.77 7.30 136.59 131.12 6.64 6.37 10.00 9.602019 10 10.00 2.42 0.76 8.06 129.77 135.97 6.30 6.61 10.00 10.482020 11 10.00 2.55 0.75 8.80 123.28 139.93 5.99 6.80 10.00 11.352021 12 10.00 2.68 0.73 9.53 117.12 143.08 5.69 6.95 10.00 12.222022 13 10.00 2.82 0.72 10.25 111.27 145.48 5.41 7.07 10.00 13.072023 14 10.00 2.97 0.70 10.95 105.71 147.21 5.14 7.15 10.00 13.932024 15 10.00 3.13 0.69 11.64 100.43 148.33 4.88 7.21 10.00 14.772025 16 10.00 3.29 0.67 12.31 95.41 148.88 4.63 7.23 10.00 15.602026 17 10.00 3.47 0.65 12.96 90.64 148.93 4.40 7.24 10.00 16.432027 18 10.00 3.65 0.63 13.60 86.11 148.53 4.18 7.22 10.00 17.252028 19 10.00 3.84 0.62 14.21 81.81 147.72 3.97 7.18 10.00 18.062029 20 10.00 4.04 0.60 14.81 77.72 146.53 3.78 7.12 10.00 18.852030 21 10.00 4.26 0.57 15.38 73.84 145.02 3.59 7.05 10.00 19.642031 22 10.00 4.48 0.55 15.94 70.15 143.22 3.41 6.96 10.00 20.422032 23 10.00 4.72 0.53 16.46 66.64 141.15 3.24 6.86 10.00 21.182033 24 10.00 4.96 0.50 16.97 63.31 138.86 3.08 6.75 10.00 21.932034 25 10.00 5.23 0.48 17.45 60.15 136.36 2.92 6.62 10.00 22.672035 26 10.00 5.50 0.45 17.89 57.14 133.69 2.78 6.49 10.00 23.402036 27 10.00 5.79 0.42 18.32 54.29 130.86 2.64 6.36 10.00 24.112037 28 10.00 6.09 0.39 18.71 51.57 127.91 2.51 6.21 10.00 24.802038 29 10.00 6.42 0.36 19.06 49.00 124.84 2.38 6.07 10.00 25.482039 30 10.00 6.75 0.32 19.39 46.55 121.69 2.26 5.91 10.00 26.142040 31 10.00 7.11 0.29 19.68 44.22 118.46 2.15 5.75 10.00 26.792041 32 10.00 7.48 0.25 19.93 42.01 115.17 2.04 5.59 10.00 27.412042 33 10.00 7.88 0.21 20.14 39.91 111.83 1.94 5.43 10.00 28.022043 34 10.00 8.29 0.17 20.31 37.92 108.46 1.84 5.27 10.00 28.602044 35 10.00 8.73 0.13 20.44 36.02 105.07 1.75 5.10 10.00 29.172045 36 10.00 9.18 0.08 20.52 34.22 101.67 1.66 4.94 10.00 29.712046 37 10.00 9.67 0.03 20.56 32.51 98.27 1.58 4.77 10.00 30.222047 38 10.00 10.18 (0.02) 20.54 30.89 94.87 1.50 4.61 10.00 30.712048 39 10.00 10.71 (0.07) 20.47 29.34 91.49 1.43 4.44 10.00 31.182049 40 10.00 11.28 (0.13) 20.34 27.88 88.14 1.35 4.28 10.00 31.622050 41 10.00 11.87 (0.19) 20.15 26.49 84.81 1.29 4.12 10.00 32.022051 42 10.00 12.49 (0.25) 19.90 25.16 81.51 1.22 3.96 10.00 32.402052 43 10.00 13.15 (0.31) 19.59 23.90 78.26 1.16 3.80 10.00 32.742053 44 10.00 13.84 (0.38) 19.20 22.71 75.05 1.10 3.65 10.00 33.052054 45 10.00 14.57 (0.46) 18.75 21.57 71.88 1.05 3.49 10.00 33.322055 46 10.00 15.34 (0.53) 18.21 20.50 68.77 1.00 3.34 10.00 33.552056 47 10.00 16.14 (0.61) 17.60 19.47 65.70 0.95 3.19 10.00 33.742057 48 10.00 16.99 (0.70) 16.90 18.50 62.70 0.90 3.05 10.00 33.892058 49 10.00 17.89 (0.79) 16.11 17.58 59.75 0.85 2.90 10.00 34.002059 50 10.00 18.83 (0.88) 15.23 16.70 56.86 0.81 2.76 10.00 34.062060 51 10.00 19.82 (0.98) 14.25 15.86 54.03 0.77 2.63 10.00 34.062061 52 10.00 20.86 (1.09) 13.16 15.07 51.27 0.73 2.49 10.00 34.022062 53 10.00 21.96 (1.20) 11.97 14.32 48.57 0.70 2.36 10.00 33.922063 54 10.00 23.11 (1.31) 10.66 13.60 45.93 0.66 2.23 10.00 33.772064 55 10.00 24.33 (1.43) 9.22 12.92 43.35 0.63 2.11 10.00 33.552065 56 10.00 25.61 (1.56) 7.66 12.28 40.84 0.60 1.98 10.00 33.272066 57 10.00 26.95 (1.70) 5.97 11.66 38.39 0.57 1.87 10.00 32.922067 58 10.00 28.37 (1.84) 4.13 11.08 36.01 0.54 1.75 10.00 32.502068 59 10.00 29.86 (1.99) 2.14 10.53 33.69 0.51 1.64 10.00 32.012069 60 10.00 31.43 (2.14) (0.00) 10.00 31.43 0.49 1.53 10.00 31.43
Total 600.00 600.00 803.51 3,929.12 5,974.55 190.88 290.25 600.00 1,403.51
Increase ("Purchasing Power' versus Traditional) 52% 52% 134%
Inflation Rate 5.26%Cost of Capital 10.00%Life 60
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