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Argued March 12, 2009

Before RUIZ and BLACKBURNE-RIGSBY, Associate Judges, and FERREN, Senior Judge.

This petition filed by the Office of People’s Counsel (OPC) seeks review of two components of an order (No. 14712)*fn1 issued by the Public Service Commission (“PSC” or the “Commission”) approving an increase in Potomac Electric Power Company’s (“Pepco”) distribution service rates. The first component of OPC’s petition relates to Pepco’s Supplemental Executive Retirement Plan and Executive Benefit Protection Plan (collectively, “SERP”). The Commission excluded capitalized SERP costs from Pepco’s rate going forward, but rejected, as retroactive ratemaking, the OPC’s request to make Pepco refund the portion of SERP costs capitalized since an earlier decision by the PSC in 1995 (Formal Case No. 939, or “FC-939″). The OPC contends that the Commission erroneously applied the rule against retroactive ratemaking because all it seeks to recoup from Pepco are costs which, OPC maintains, the Commission disallowed in its 1995 decision.

 
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