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Show UPSC approves UP&L increase The Utah Public Service Commission Commis-sion has approved (May 23) a Utah Power & Light Co. rate increase totaling total-ing $54.38 million in additional annual revenues $49 million of which was granted in November 1982 on an interim in-terim basis. The total increase amounts to approximately ap-proximately 62 percent of the utility's request of $88.4 million. The $5.38 million in additional revenues granted the company will go into effect for services ser-vices on May 26. In November of last year, the Utah Commission approved the $49 million interim increase subject to refund un-. til hearings on the company's application applica-tion were completed. The interim rate relief has been in effect since November 1, 1982 and amounted to approximately ap-proximately 8.9 percent of the firm's annual Utah revenues. In its order, the commission authorized the company to earn 15.5 percent return on equity down from the previously authorized return of 16.3 percent and return on investment of 12.19 percent, down from 12.31 percent per-cent previously authorized because, the commission said, of reduced inflation infla-tion and lower interest rates. The additional $5.38 million granted UP&L repres' ' an increase of just under one percent over present rates to be spread equally among all classes of service: residential, commercial, industrial and others. For the typical residential customer (without space or water heating) using 500 kilowatt hours per month, the increase amounts to approximately 36 cents per month. UP&L serves some 415,000 Utah electrical customers. |