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CONTEL OF ARKANSAS, INC. v. PUBLIC SERV. COM'N

No. CA 91-108.

822 S.W.2d 850 (1992)

37 Ark.App. 18

CONTEL OF ARKANSAS, INC., Appellant, v. ARKANSAS PUBLIC SERVICE COMMISSION, Appellee.

Court of Appeals of Arkansas, En Banc.

January 22, 1992.

Attorney(s) appearing for the Case

Lawrence E. Shisenhall, Jr., Little Rock, W.R. England, III, Jefferson City, Mo., for appellant.

Kenney W. Henderson, Little Rock, for appellee.

DANIELSON, Judge.

Appellant, Contel of Arkansas, Inc., a telephone utility serving approximately 75,000 Arkansas ratepayers, appeals from a decision of the Arkansas Public Service Commission, appellee, involving Contel's application for a general rate increase. Contel contends the Commission erred in calculating its cost of equity by including in its parent corporation's capital structure accrued common stock dividends payable as a zero-cost source of funds.

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