AFUDC Definition

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AFUDC is Accumulated Funds Used During Construction or Allowance for Funds Used During Construction.

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GRANDFATHERED INVESTMENTS are Municipal bonds and equities acquired on or before August 7,1986, the effec­tive date of changes in tax rates caused by the Tax Reform Act of 1986. These investments are not subject to the 5.1 % property-casualty insurance company proration tax.

DURATION DRIVERS represent the amount of time required to perform an activity.

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