“The Commission, however, does not have the full power of the Legislature but only that portion conferred upon it in G.S. Chapter 62. In fixing the rates to be charged by a public utility for its service, the Commission must, therefore, comply with the requirements of that chapter, more specifically, G.S. 62-133.”
How later courts described this case
- “The Commission, however, does not have the full power of the Legislature but only that portion conferred upon it in G.S. Chapter 62. In fixing the rates to be charged by a public utility for its service, the Commission must, therefore, comply with the requirements of that chapter, more specifically, G.S. 62-133.”
- “It is . . . the prerogative of the [Utilities] Commission to determine the credibility of evidence . . . .”
- noting that patents are intangible assets of corporations
- ‘“North Carolina users of telephones are not to be required to furnish revenue to maintain applicant’s financial condition which other states refuse to provide’ ”
Written by the judges who cited it.
Later courts went against this
Superseded by statute, as recognized in State Ex Rel. Utilities Commission v. Duke Power Co.
See Utilities Comm. v. Telephone Co., 281 N.C. 318, 189 S.E. 2d 705 (1972), superseded by statute, Utilities Comm. v. Power Co., 305 N.C. 1, 287 S.E. 2d 786 (1982).
The opinion
Chief Justice Bobbitt,
concurring in part, dissenting in part.
I concur in that portion of the Court’s decision which holds that the Court of Appeals erred in affirming the deduction by the Commission of $978,000.00 from General’s “net investment in plant” (original cost less depreciation) by reason of profits earned by Automatic upon its sales to General. With this exception, I vote to affirm the decision of the Court of Appeals for the reasons set forth in the opinion of Judge Parker. I deem it unnecessary to approve or disapprove the extended discussions in the Court’s opinion relating to the determination of replacement cost, less depreciation, and other questions not directly presented by this appeal. These should be decided when drawn into focus by proper exceptions and full argument.