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NEW YORK STATE ELECTRIC & GAS ANNOUNCES WITHDRAWAL OF PROPOSAL

     NEW YORK STATE ELECTRIC & GAS ANNOUNCES WITHDRAWAL OF PROPOSAL
    BINGHAMTON, N.Y., Dec. 5 /PRNewswire/ -- New York State Electric & Gas Corporation (NYSEG) (NYSE: NGE) today announced that, at the request of the Public Service Commission (PSC), it has agreed to withdraw from its pending electric rate proceeding a proposed revenue decoupling mechanism (RDM).  NYSEG's decision to withdraw this proposal will allow the PSC to complete a generic RDM proceeding currently underway, and it provides the PSC sufficient time to examine other complex aspects of the rate filing.
    The RDM would have eliminated the relationship between sales and earnings for a two-year period commencing Aug. 1, 1992, and would have provided and expense attrition mechanism, as well as incentive proposals totaling 0.40 percent return on common equity allocated to electric operations for exceeding certain power plant performance and customer services standards.  Another incentive proposal related too demand management is still a part of the electric rate proceeding.  That incentive is currently limited to 0.75 percent return on common equity allocated to electric operations.  NYSEG has proposed to increase that incentive to 0.80 percent in the electric rate proceeding.
    The RDM was withdrawn with the understanding that the electric rate filing would be based on a one-year plan and that the RDM proposal would be examined in the interim by the PSC Staff and other interested parties so that consideration of it can be facilitated in NYSEG's next rate filing.
    -0-       12/5/91
    /CONTACT:  K.B. Hooper of NYSEG, 607-729-2551/
    (NGE) CO:  New York State Electric & Gas Corporation ST:  New York IN:  UTI SU: SH-SM -- NY077 -- 9791 12/05/91 15:49 EST
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Publication:PR Newswire
Date:Dec 5, 1991
Words:275
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