Qualified Capital Project Adjustment Charge (QCPAC)
On November 7, 2017, the NHPUC issued Order No. 26,070 which approved replacement of
the PWW current WICA program with an annual QCPAC, which will apply an annual
surcharge between rate cases. This surcharge will be based on essentially all of the capital
projects undertaken and completed by PWW each year. The QCPAC is stipulated to include
the full debt service (principal and interest), as well as the incremental property taxes, for
annual additions to capital assets.
On October 29, 2018, the NHPUC issued Nisi Order No. 26,183 approving a 1.69% surcharge
on all capital improvements completed and placed in service by PW W in 2017. This surcharge
will go into effect in December 2018, on a going forward basis, as a subset of PWW’s next
allowed permanent rate increase.
Note 16 — Subsequent Events
The Company has evaluated the events and transactions that have occurred through March 20, 2019,
the date that these consolidated financial statements were available for issuance, for which no
reportable events were discovered.
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