Utility Company Depreciation?


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Hello All,

I just started working on a New York based utility company, and have been given the task of researching their deprecation methods. This is the first utility company I have worked on, and they mentioned that they are allowed to depreciate their assets in excess of the asset’s basis. I pulled up New York’s PSC rules report, and did some other research into this, but I cannot seem to find anything to support this claim. Has anyone heard of this before or have a source they can steer me to in order to confirm this is allowed? It may only be related to the annual reports that they file with NYPSC.

Thank you!
 
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