Copies of correspondence between the Treasurer and Controller and the Shanghai Power Company relative to me tart surcharge anda Feport on the subject from the Finance Departnent. wore. submitted to. another Ieeting of the Public Uhties Committee on amoy 26, In these. do nents, 1 vas pointed out that for the past five, months the Company had heeepted a surcharge lower th that provided for, by. the approved primate, it was also pointed. out {hat asp result of the application of Rawrehnege Tower than that, which ould nave been given under the formula, there hind "resuited only. Felotively "smalldeiieleney inthe Rircharge collected as compared ith the moveased expenses. "Thus was the Ferull of lands having increased more than was antespated in. 1998
Tu the Company's view the formula had! proved to be n precise aneeqit= Role method of determining. a sur charge' 10 compensate. the Compan for Increased costs 01 operation and Inaintenance, and ft propered that 19 Chane be made in-the formula: that cad month, ax in the past, ween the Fate of exchange is eared, the Come pany should continue. to. soommend Receptanee from the to time of such ower vote of surcharge ae they feel Jntied in. proposing and that the tire hare should continue t0 be sabe ject to review from time to tue ad At any time upon the request of either the Company or dhe Counci Higher Surcharge On Gas Rejected Shanghai, June 8
Ata meeting held on May 26. the Public Utilities Committee of the Shanghai Municipal Couneit dealt with an application from the Shanghai Gas Ca. Lid. for permission to ern tinue the' existing surcharge of 23 er cent, (the authority for which expired originally on April 30. 1999) for consumption periods ending between May 1 and 31, and to inerense the surcharge to 32.9 per cent. for consumption. periods ending during the monthe of June, July and August. the position to be again reviewed at the end of July with a view to deciding fon the surcharge for the last. four months of the year The Company contended that, from the position disclosed in a revised estimate of expenditure and revenue for 1929, this additional surcharge would be required to enable the Com pany. to cover its expenditure and capital charge Members were reminded that continuance of the existing surcharge had deen authorised by the Council in espeet of consumption periods ending during the month of May and. for such further period as would enable the requisite one month's notice to be given of a change in the surcharge, if any, that might be approved.
Text read from the printed page and cleaned; old type leaves the occasional error.