The Empire District Electric Company (NYSE:EDE) has been denied interim rates by the Missouri Public Service Commission. The interim rates requested in connection with the July 6, 2012, rate case filing would have allowed Empire to begin collecting rates to cover the $6.2 million portion of the case related to tornado recovery impact and the post-tornado cost of service before the remainder of the case was settled.
In making the announcement, Brad Beecher, president and CEO, stated, "We are disappointed the Commission did not believe the impact associated with the tornado met the test for interim implementation. The impact remains a part of the primary case we filed on July 6, 2012, for $30.7 million."
Based in Joplin, Missouri, The Empire District Electric Company (NYSE:EDE) is an investor-owned, regulated utility providing electric, natural gas (through its wholly owned subsidiary The Empire District Gas Company) and water service, with approximately 215,000 customers in Missouri, Kansas, Oklahoma, and Arkansas. A subsidiary of the Company also provides fiber optic services. For more information regarding Empire, visit www.empiredistrict.com.
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements address future plans, objectives, expectations, and events or conditions concerning various matters. Actual results in each case could differ materially from those currently anticipated in such statements, by reason of the factors noted in our filings with the SEC, including the most recent Form 10-K.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts