Filed Expert Witness Testimony on Behalf of the Pennsylvania Office of Consumer Advocate

Provides Testimony on the fair and reasonable overall cost of capital that the Pennsylvania Public Utility Commission should adopt in Columbia Gas’s application for an increase in its gas distribution service rates –  Docket No. R-2015-2468056

An important issue in the case: What is the appropriate capital structure to use for rate making purposes? In his direct testimony Aaron Rothschild recommends that if the Company charges consumers 0.50% to account for “… the lower credit quality of CPA’s parent company (NiSource)” it should not be allowed to charge consumers for an amount of equity found in a lower risk capital structure.

Mr. Rothschild recommends a cost of equity for Columbia Gas of 8.88%.

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