56-78 - Exclusion from accounts of payments to affiliated companies. - Virginia Statutes

§ 56-78. Exclusion from accounts of payments to affiliated companies.

In any proceeding, whether upon the Commission's own motion or uponcomplaint, involving the rates or practices of any public service company,the Commission may exclude in whole or in part from the accounts of suchpublic service company any payment or compensation to an affiliated interestfor any services rendered or property or service furnished, as abovedescribed, under existing contracts or arrangements with such affiliatedinterest, if it shall appear and be established upon investigation that suchpayment or compensation or such contract or arrangement is not consistentwith the public interest. In such proceeding any payment or compensation maybe disapproved or disallowed by the Commission, in whole or in part, unlesssatisfactory proof is submitted to the Commission of the cost to theaffiliated interest rendering the service or furnishing the property orservice above described.

(1934, p. 744; Michie Code 1942, § 3774d.)