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Show its construction program so that) the needs of its customers and I growth of Utah may not be im-podt im-podt cl. I UTAH POWER & LIGHT I COMPANY APPLICATION j FOR INCREASE DENIED j Utah Power & Light companysi application for increased rates in Utah, which askd for an aver-; age increase of about !i per cent, was denied by the Utah Public; Service Commission in an order! released last Monday. I The commission rukd that the company had earned 0 per cent return during 19 ill, in spite ot i the company's contention that on j its proper rate base it is now ! earning loss than a 6 per cent re- j turn and that the requested rate increase would not result in a higher return than 6 per cent now or in the immediate future. The rate base established by the commission is approximately $2,300,000 less than that of the company. In commenting on the decision, George M. Gadsb, president and general manager of the power company, stated that in spite of the steady and laige increases in the costs of labor, taxes, fuel and materials which have occurred since 1943 to the date of this application, ap-plication, the company has not asked nor received any rate increase. in-crease. It was in 1U43, he said, that the commission ordered reductions re-ductions in rates amounting to more than $1,1)00,000 in Utah, based on revenues in 1941, which reduction was vigorously protested, pro-tested, without avail. He declared th:.t had this modest mo-dest increase been granted the rates still, would have been much less than pre-war and well below be-low the national average. Mr. Gadsby pointed out that an adequate return on investment is important in attracling capital to finance the company's $61,000,000 construction program over the next five years and that this would have beon facilitated had the rate increase been granted, without any serious burden on any customer. He said, however, that the company accepts the order without with-out further proceedings, and will do everything possible to pro-cure pro-cure the money and proceed with |