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Florida City Gas <br />FPSC Natural Gas Tariff <br />Volume No. 9 Original Sheet No. 81 <br />RIDER "D" <br />SAFETY, ACCESS AND FACILITY ENHANCEMENT (SAFE) PROGRAM <br />(Continued) <br />Calculation of the SAFE Revenue Requirements and SAFE Surcharges <br />In determining the SAFE Revenue Requirements, the Commission shall consider only (a) <br />the net original cost of Eligible Replacements (i.e., the original cost); (b) the applicable depreciation <br />rates as determined and approved by the Commission based on the Company's most recent <br />depreciation study; (c) the accumulated depreciation associated with the Eligible Replacements; <br />(d) the current state and federal income and ad valorem taxes; and (e) the Company's weighted <br />average cost of capital as calculated in the Company's most recent year-end surveillance report. <br />The SAFE Revenue Requirements shall be calculated as follows: <br />Line <br />Description <br />Value <br />Source <br />1 <br />Revenue Expansion Factor <br />1.6329 <br />As calculated in most recent base rate <br />roceedin , using current tax rates <br />2 <br />Ad Valorem Tax Rate <br />% <br />Effective Property Tax Rate for most recent <br />12 Months ended December 31 <br />3 <br />Mains <br />$ <br />Eligible Replacement Mains <br />4 <br />Services <br />$ <br />Eligible Replacement Services <br />5 <br />Regulators <br />$ <br />Eligible Replacement Regulators <br />6 <br />Other <br />$ <br />Eligible Replacement Other <br />7 <br />Gross Plant <br />$ <br />L3+L4+L5+L6 <br />8 <br />Accumulated Depreciation <br />$ <br />Previous Period Balance +L13 <br />9 <br />Construction Work In Progress <br />$ <br />Non-interest Bearing <br />10 <br />Net Book Value <br />$ <br />L7-L8+L9 <br />11 <br />Average Net Book Value <br />$ <br />1-10 + Balance From Previous Period /2 <br />12 <br />Return on Average Net Book <br />Value <br />$ <br />L 11 X Company's weighted average cost of <br />capital as calculated in the Company's most <br />recent ear -end surveillance report <br />13 <br />Depreciation Expense <br />$ <br />Lines 3,4,5 & 6 X applicable approved <br />Depreciation Rates <br />14 <br />Property Tax <br />$ <br />L7 -L8 X L 2 <br />15 <br />Customer and general public <br />notification and other applicable <br />expense <br />$ <br />O&M expense incurred as a result of eligible <br />plant replacement <br />16 <br />SAFE Revenue Requirement <br />$ <br />L12+L13+L14+L15 X L 1 <br />Issued by: Carolyn Bermudez Effective: <br />Vice President, Florida City Gas <br />