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Regulatory Matters
2 Months Ended
Dec. 31, 2016
Public Utilities, Rate Matters [Abstract]  
Regulatory Matters
REGULATORY MATTERS

REGULATORY OVERSIGHT AND RATE AND REGULATORY ACTIONS

NORTH CAROLINA

See Note 2 for information on Acquisition-related matters.

In November 2016, the NCUC approved our accounting of gas costs for the twelve months ended May 31, 2016. We were deemed prudent on our gas purchasing policies and practices during this review period and allowed 100% recovery.

In October 2016, we filed a petition to adjust our rates effective December 1, 2016 to collect an additional $8.2 million in annual integrity management rider (IMR) margin revenues from that which was approved by the NCUC in May 2016. The December 2016 rate adjustment was based on IMR-eligible capital investments in integrity and safety projects through September 30, 2016, which total $513.1 million since inception of the IMR mechanism. In November 2016, the NCUC approved the requested rate increase.
 
TENNESSEE

In August 2016, we filed an annual report with the Tennessee Regulatory Authority (TRA) reflecting the shared gas cost savings from gains and losses derived from gas purchase benchmarking and secondary market transactions for the twelve months ended June 30, 2016 under the Tennessee Incentive Plan (TIP). We are waiting on a ruling from the TRA at this time.

In August 2016, we filed an annual report for the twelve months ended June 30, 2016 with the TRA that reflected the transactions in the deferred gas cost account for the Actual Cost Adjustment mechanism. We are waiting on a ruling from the TRA at this time.

In November 2016, we filed an annual report with the TRA under our IMR mechanism seeking authority to collect an additional $1.7 million in annual margin revenue effective January 2017 based on $20.1 million of capital investments in integrity and safety projects over the twelve-month period ending October 31, 2016. We are waiting on a ruling from the TRA at this time.