SB 909 - This act allows electrical corporations to recover depreciation expenses and return for electric plants placed in service by placing such expenses in a regulatory asset account. The definitions of "qualifying electric plant", "relevant period", and the calculation of such expenses and return is set forth in this act. The balance in the regulatory asset account shall be included in determining the electrical corporation's rate base during their next general rate proceeding. The amount may be amortized and recovered in rates over a period of 35 years. This act also allows electrical corporations to recover these same expenses for the time period from the end of a relevant period to the effective date customer rates take into account these expenses. The Public Service Commission shall retain the authority to review such costs for prudence during the electrical corporation's general rate proceeding. Nothing in this act shall limit the Public Service Commission's authority to authorize an electrical corporation to defer depreciation expenses and return for recovery in an electrical corporation's general rate proceeding. The recovery of such depreciation expenses and return shall not impact the rates of customers who have a billing demand of 5 megawatts or more. The revenues that would have been produced from increasing the retail rates of such customers shall not be recovered from other customers. The maximum average retail rate increase allowable for all other customers is calculated as set forth in this act.
This act is identical to HB 2204 (2014).
KAYLA CRIDER