Court of Appeals for the D.C. Circuit May 12, 1995, 93-1785 (Town of Norwood, Massachusetts v. Federal Energy Regulatory Commission, New England Power Company, Intervenor)

WALD, Circuit Judge:

This case involves the ratemaking treatment of post-retirement benefits other than pensions, which consist largely of retiree medical benefits (“PBOPs” or “retiree medical benefits”). Historically, PBOPs have been reported on a cash basis for both accounting and ratemaking purposes.