Docket No. 3764 - Interstate Navigation Co. - Request for Approval of Fast Ferry Rate Filing

Status of Docket: Closed.

PUC issues Report and Order No. 18957 in Docket Nos. 3762 and 3764 approving a Settlement Agreement between Interstate Navigation Co. and the Division of Public Utilities and Carriers. The Order incorporates the Amended Settlement Agreement, rates and commodity charges, and the Application for Issuance of Block Island Ferry Islander Card. The Settlement establishes a rate plan which includes a provision for a two year rate freeze on rates for traditional ferry service after an increase in base rates to produce additional revenues of $1,100,694 effective January 1, 2007, restrictions on rate increase for traditional ferry service in 2009, 2010 and 2011, a performance-base rate plan which includes an earnings sharing mechanism, and procedures to credit customers for decreases in fuel for traditional ferry services below a $2.00 per gallon floor (including taxes) during the term of the rate plan established by the Settlement. Written Order issued 5/11/07.

• Interstate Navigation - request seeking approval of fast ferry rate filing (filed 8/29/06)
• Division of Public Utilities - Comments indicating that it does not object to Interstate's fast ferry rate filing, to remove the expiration of October 9, 2006 (9/12/06)
• Reply from Island Hi-Speed Ferry to Division's comments
• Town of New Shoreham - Comments regarding Interstate's fast ferry tariff filing (9/8/06)
• Stipulation between Interstate, Town of New Shoreham and the Division. The parties agreed to defer all issues associated w/ ratemaking treatment of Interstate's high speed operations in the context of Interstate's general rate filing Docket No. 3762 (filed 9/15/06)
• The PUC accepted the Stipulation at open meeting held on September 28, 2006