2019 South Carolina Code of Laws
Title 58 - Public Utilities, Services and Carriers
Chapter 27 - Electric Utilities And Electric Cooperatives
Section 58-27-1550. Annual depreciation; depreciation reserve.
Every electrical utility may, and may be required to, charge annually as an operating expense a reasonable sum for depreciation and credit the sum to a reserve account for such purpose. The reserve account must be charged only with plant retirements and expenditures made to restore depreciated property. But if the reserve thus created shall at any time in the judgment of the Office of Regulatory Staff be excessive, the commission, after due hearing, shall issue an order as will result in the credits to the reserve thereafter conforming to actual facts and conditions as ascertained by the commission. The commission may control or limit the depreciation reserve.
HISTORY: 1962 Code Section 24-95; 1952 Code Section 24-95; 1942 Code Section 8555-2; 1932 (37) 1497; 1934 (38) 1452; 1935 (39) 207; 1937 (40) 493; 2006 Act No. 318, Section 194, eff May 24, 2006.
