SO - Southern's Nicor Gas hit with $38M charge on disallowed capital investment
2023-06-21 07:51:30 ET
Southern Co. ( NYSE: SO ) said Wednesday its Nicor Gas subsidiary will record a $38M pre-tax charge after some of its requested capital investments for 2019 were disallowed.
Nicor said the Illinois Commission disallowed $32M of the $415M of requested Qualifying Infrastructure Plant capital investments it incurred for 2019, together with related return on investment.
The company said it "defends these investments in infrastructure as prudently incurred and intends to request rehearing by the Illinois Commission and, if necessary, appeal to the Illinois Appellate Court."
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Southern's Nicor Gas hit with $38M charge on disallowed capital investment