SB 6 - This act modifies provisions relating to ratemaking for electrical corporations.ALUMINUM SMELTING & STEEL WORKS FACILITIES (Section 393.355) - This act gives the Public Service Commission the authority to approve a special rate for 10 years or December 31, 2027, whichever occurs first, that is not based on an electrical corporation’s cost of service for an aluminum smelting facility or steel works facility if the Commission determines the rate is in the public interest, allocates the reduced revenues to other customers, and authorizes a tracking mechanism. In order to receive such special rate, a facility shall file an application with the Commission requesting the rate, and provide information on how such special rate serves the public interest.
This provision is similar to a provision contained in SCS/SB 1028 (2016) and SS/HCS/HB 2689 (2016).
RATE ADJUSTMENT AND REGULATORY MECHANISMS (Sections 393.356 & 393.1410) - This act allows electrical corporations to file proposed rate or regulatory mechanisms with the Public Service Commission. If such rate or mechanism is approved by the Commission, the Commission shall not modify or eliminate such mechanism, plan, or rate during the specified term.
This act allows the Missouri Public Service Commission to utilize rate adjustment mechanisms otherwise not specifically authorized by statute to promote modernization and replacement of an electrical corporation's infrastructure. This act also allows the Commission to use partially forecasted test-years, true-ups of revenue requirement components, tracking mechanisms, grid modernization incentive mechanisms, interim rates, performance-based ratemaking, revenue decoupling, or decisional pre-approval with post construction review for construction projects.
This provision is substantially similar to SB 215 (2017), a provision contained in SCS/SB 190 (2017), and HB 628 (2017).
This act is substantially similar to provisions contained in CCS/HCS/SB 302 (2017).
KAYLA HAHN