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Subsequent Events
6 Months Ended
Mar. 31, 2012
Subsequent Events [Abstract]  
Subsequent Events

Note 17 – Subsequent Events

 

On April 20, 2012, the NYPSC issued a final order in the Company’s rate case. The Company’s revenues will increase by $944,310 in rate year one, an additional $899,674 in rate year two and by an additional $323,591 in rate year three. The Company will also be allowed to keep an additional $294,284 in production revenues before being subject to a revenue sharing mechanism. The new rates are effective on May 1, 2012.

 

As part of the rate order, the NYPSC approved amortizing the reporting penalty ordered in Case 08-G-1137 over a seven year period as requested by the Company.

 

On April 20, 2012, the NYPSC also denied the petition in Case 09-G-0790 requesting authority to transfer pipelines 2, 3 and 6 from utility operations to a non-utility entity. The Company is reviewing the order and considering filing a petition for rehearing.