0000024751-12-000003.txt : 20120117 0000024751-12-000003.hdr.sgml : 20120116 20120117093125 ACCESSION NUMBER: 0000024751-12-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120113 ITEM INFORMATION: Other Events FILED AS OF DATE: 20120117 DATE AS OF CHANGE: 20120117 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORNING NATURAL GAS CORP CENTRAL INDEX KEY: 0000024751 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION & DISTRIBUTION [4923] IRS NUMBER: 160397420 STATE OF INCORPORATION: NY FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-00643 FILM NUMBER: 12528316 BUSINESS ADDRESS: STREET 1: 330 W WILLIAM ST STREET 2: P O BOX 58 CITY: CORNING STATE: NY ZIP: 14830 BUSINESS PHONE: 6079363755 MAIL ADDRESS: STREET 1: 330 W WILLIAM STREET STREET 2: P O BOX 58 CITY: CORNING STATE: NY ZIP: 14830 8-K 1 cng8k.htm CORNING NATURL GAS FORM 8-K UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

January 13, 2012

(Date of earliest event reported)

Corning Natural Gas Corporation

(Exact name of registrant as specified in its charter)

New York		000-00643		16-0397420
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

330 West William Street, Corning, New York	14830
(Address of principal executive offices)	(Zip Code)

(607) 936-3755

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

8.01 Other Events

On January 13, 2012 the Company, PSC Staff and other intervener parties filed a Joint Proposal (JP) covering a three year period with the NYPSC to resolve all issues in its rate case (11-G-0280). The JP provides for revenue increases in Corning's rates in the first year (May 1, 2012 to April 30, 2013) of $944,310; year two (May 1, 2013 to April 30, 2014) of $899,674; and year three (May 1, 2014 to April 30, 2015) of $323,591. The cumulative revenues over the three years total $4,955,869. The JP also provides the Company the opportunity to earn $545,284 annually from local production before sharing, a 118% increase from the $250,000 annually allowed today. The JP also provides for property tax reconciliation, treatment of future local production investment, allocations to the Company's new Leatherstocking operations and consolidation of the three divisional rate tariffs into a single rate tariff. The rate case was based on a 9.5% return on equity. The JP will be reviewed by the Administrative Law Judges for reasonableness. They will recommend to the Commission approval or disapproval of the JP. The Commission is expected to render a decision in April 2012 with rates becoming effective May 1, 2012.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Corning Natural Gas Corporation
	By: /s/ Fi Sarhangi
	Chief Financial Officer

	Dated: January 17, 2012