(a) Purpose. The purpose of these rules is to implement G.S. 62-158 and G.S. 62-2(9) by providing for the establishment, funding, operation and administration of natural gas expansion funds to promote the public welfare throughout the State. Any such fund is to be used by the franchised natural gas local distribution company for which it is approved for the construction of facilities in its franchised territory to extend natural gas service to areas of the State where natural gas service is not available.
(1) Economically infeasible: The Project has a negative net present value.
(2) LDC: Natural gas local distribution company.
(3) Net present value: The present value of expected future net cash inflows over the useful life of a Project minus the present value of net cash outflows.
(4) Project: The scope of the construction of facilities to extend service into unserved areas.
(5) Unserved areas: Counties, cities or towns of which a high percentage is unserved.
(NCUC Docket No. G-100, Sub 57, 4/9/92.)