Rate Cases	3 Months Ended
Dec. 31, 2012
Rate Cases
Rate Cases	Note 5 – Rate Cases In August 2009, in Case 08-G-1137, the New York Public Service Commission (“NYPSC”) approved a rate increase of $1.5 million effective September 1, 2009 that was included in a gas rate joint proposal dated March 27, 2009. The order also contained a revenue decoupling mechanism (RDM), a refund or surcharge on customer bills to reflect differences between actual delivery revenue from residential customers and a revenue target. The order also contained a year two “capital tracker”. This allowed the Company to file for rate relief in 2010 for new capital projects without a full rate proceeding. In addition, the percentage of revenues from gas producers retained by the Company as an incentive was increased from 10% to 20%. On January 25, 2011, the NYPSC approved an estimated increase in rates of $164,000 associated with the “capital tracker”. The final amount determined on the actual capital expenditures and additional property taxes from September 2010 through August 2011 was $228,342. On April 20, 2012, the NYPSC issued a final order in Case 11-G-0280 approving a Joint Proposal (the “Proposal”) for a three-year rate plan. The Proposal provided for revenue increases to Corning’s rates in the first year (May 1, 2012 to April 30, 2013) of $944,310; in year two (May 1, 2013 to April 30, 2014) of $899,674; and in year three (May 1, 2014 to April 30, 2015) of $323,591. The Proposal also provided the Company the opportunity to earn $545,284 from local production before sharing, a 118% increase from the $250,000 allowed previously. The Proposal also provided for property tax reconciliation, treatment of future local production investment, allocations to the Company’s new Leatherstocking operations, consolidation of the three divisional rate tariffs into a single rate tariff and recovery of forecasted capital and operation and maintenance costs for the period May 1, 2012 to April 30, 2015. The rates are based on a 9.5% return on equity. The cumulative potential revenue increases over the three years total $4,955,869. Rates became effective May 1, 2012.

Rate Cases

3 Months Ended

Dec. 31, 2012

Note 5 – Rate Cases

In August 2009, in Case 08-G-1137, the New York Public Service Commission (“NYPSC”) approved a rate increase of $1.5 million effective September 1, 2009 that was included in a gas rate joint proposal dated March 27, 2009. The order also contained a revenue decoupling mechanism (RDM), a refund or surcharge on customer bills to reflect differences between actual delivery revenue from residential customers and a revenue target. The order also contained a year two “capital tracker”. This allowed the Company to file for rate relief in 2010 for new capital projects without a full rate proceeding. In addition, the percentage of revenues from gas producers retained by the Company as an incentive was increased from 10% to 20%. On January 25, 2011, the NYPSC approved an estimated increase in rates of $164,000 associated with the “capital tracker”. The final amount determined on the actual capital expenditures and additional property taxes from September 2010 through August 2011 was $228,342.

On April 20, 2012, the NYPSC issued a final order in Case 11-G-0280 approving a Joint Proposal (the “Proposal”) for a three-year rate plan. The Proposal provided for revenue increases to Corning’s rates in the first year (May 1, 2012 to April 30, 2013) of $944,310; in year two (May 1, 2013 to April 30, 2014) of $899,674; and in year three (May 1, 2014 to April 30, 2015) of $323,591. The Proposal also provided the Company the opportunity to earn $545,284 from local production before sharing, a 118% increase from the $250,000 allowed previously. The Proposal also provided for property tax reconciliation, treatment of future local production investment, allocations to the Company’s new Leatherstocking operations, consolidation of the three divisional rate tariffs into a single rate tariff and recovery of forecasted capital and operation and maintenance costs for the period May 1, 2012 to April 30, 2015. The rates are based on a 9.5% return on equity. The cumulative potential revenue increases over the three years total $4,955,869. Rates became effective May 1, 2012.