The Buffalo News: National Fuel near settlement on ‘excess’ profit probe

The Buffalo News — A potential settlement could be close in the state Public Service Commission’s rate case with National Fuel Gas Co. and its probe into whether it should recover “excess” profits that the Amherst-based utility earned over the last few years and refund them to customers.

Six of the seven parties involved in the case have reached an agreement in principle and are seeking more time to prepare a joint proposal regarding the rate case, according to a filing Tuesday by a pair of administrative law judges handling the case.

Only the Public Utility Law Project, an Albany-based group that represents low-income and elderly consumers, has not signed on to the agreement in principle, the judges, David Prestermon and Kevin Casutto, said in the filing.

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