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<br />I <br />. since thetteriod covered by the last~nal reconciliation <br />I <br />of f~el costs, HL&P has (i) generated electricity and operated <br />its system efficiently, (ii) maintained effective cost controls <br />over fuel related activities, and (iii) negotiated contracts <br />that have resulted in the lowest reasonable cost of fuel to <br />Company ratepayers. In addition over that same period all fuel <br />related expenses paid to utility Fuels, Inc. ("UFI"), an HL&P <br />affiliate, have been reasonable and necessary; and the prices <br />paid by HL&P to UFI for fuel and related services have been no <br />greater than prices charged by UFI to any other party for the <br />same items or class of items. <br /> Requested Relie~ <br /> In light of the above discussed events and circumstances, <br />HL&P requests that this Commission undertake a final <br />reconciliation of its reconcilable coal costs for the period <br />from August 1, 1984 through September 30, 1988 and all other <br />reconcilable fuel costs from May 1, 1986 through <br />September 30, 1988 so that at the completion of the review all <br />of the Company's reconcilable fuel costs will have been <br />reconciled through September 30, 1988. In that regard, the <br />Company proposes that its present fuel cost factors be <br />readopted and that a reconcilable fuel cost underrecovery <br />balance of approximately $32.8 million (inclusive of interest) <br />through September 30, 1988 be acknowledged and approved as <br />reasonable. The Company further estimates that while its <br />monthly over/under recovery balance of reconcilable fuel costs <br />GWS005SG - 3 - <br />