SB 207 - Currently, gas corporations may file a petition with the Public Service Commission for rate adjustments to recover costs incurred for infrastructure replacement projects. This act allows electrical corporations to follow a similar precess to recover costs for infrastructure replacement projects. The types of costs that can be recovered include certain work on electric plants, certain capital projects undertaken to comply with environmental or safety regulations, and costs of facilities relocation due to public works projects.
This act requires the Public Service Commission to track the differences between certain capitalized and non-capitalized labor costs of electric corporations. Electric corporations may record these labor costs as regulatory assets or liabilities and amortize them over a period of three years for consideration in rate proceedings. In subsequent rate proceedings, unamortized balances of such regulatory assets or liabilities shall be amortized over three years.