SB 0888 PSC must set ratemaking principles before new generation is constructed and DNR must act on permits within 180 days
LR Number:3495S.02I Fiscal Note:3495-02
Committee:Commerce and Environment
Last Action:01/21/02 - Second Read and Referred S Commerce & Environment Journal page:S125
Effective Date:August 28, 2002
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Current Bill Summary

SB 888 - This act requires the Public Service Commission to specify ratemaking principles in advance of construction of electric generating facilities of greater than 300 MW. The PSC will not be limited to traditional ratemaking principles or cost recovery mechanisms. The ratemaking principles must be determined in a contested case proceeding. After the entry of the order specifying the ratemaking principles, the utility will have the option to construct, lease or withdraw its application for a certificate. The principles will not be binding on subsequent rate cases. The Department of Natural Resources is also required to approve or deny permit applications within 180 days of receipt.