HB 124 Riddle, Jeanie Pollock, Darrell et al I N T R O D U C E D
HB 124 -- Site Development for Energy Generation Facilities
Sponsor: Riddle
This bill allows an electrical company to recover from ratepayers the costs associated with early site development for certain electrical generation facilities. Beginning October 1, 2011, an electrical corporation seeking an early site permit from the United States Nuclear Regulatory Commission must submit monitoring reports to the Missouri Public Service Commission every six months documenting work completed, total expenditures to date, work yet to be completed, and anticipated expenditures in order to obtain the permit. If total expenditures to obtain the permit are estimated to exceed $40 million, the corporation must include in these reports an explanation of why the excess expenditures are prudent. Currently, the standard for recovery of these expenses requires them to be reasonable and just.
Recovery of the prudently incurred expenses will be allowed for up to 20 years and will commence with the effective date of tariffs approved by the Missouri Public Service Commission in the applicable corporation's first general rate proceeding following the date on which the early site permit is obtained. This process will allow the recovery of expenses made prior to the time that a generation facility is fully operational and, therefore, is an exception to Section 393.135, RSMo.
If the electrical corporation that sought the early site permit or an electrical corporation that contributed toward the expenditures for the permit has recovered from ratepayers its expenses for the permit and it subsequently sells, transfers some or all of its interest in the permit, or receives reimbursement for its expenses, it must refund to the ratepayers the amount of the expenses that it subsequently recovered by the sale, transfer, or reimbursement.