SB 310 - This act allows electrical corporations to recover depreciation expense and return for qualifying electric plants placed in service. The definitions of "qualifying electric plant", "relevant period", and the calculation of such expense 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 this same expense for the time period from the end of a relevant period to the effective date customer rates take into account this expense. 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 expense and return for recovery in an electrical corporation's general rate proceeding.
The recovery of such depreciation expense 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 impact on the electrical corporation's revenue requirement caused by the inclusion of the regulatory asset shall not exceed the maximum revenue requirement impact calculated as set forth in this act.
This act is identical to HB 925 (2015), and is similar to SB 909 (2014) and HB 2024 (2014).