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SB 184 - This act allows any water or sewer corporation to request, in a general rate proceeding, a revenue stabilization mechanism (RSM) rate schedule authorizing periodic rate adjustments outside of a general rate proceeding to ensure that the corporation's actual revenues do not vary from its authorized revenues. If requested, the Public Service Commission shall approve such RSM rate schedule. Under this act, RSM rate schedules shall account for revenue variations within each customer class. Water or sewer systems acquired by a water or sewer corporation utilizing an RSM shall be excluded from RSM rate schedules until the corporation’s next general rate proceeding. This act requires that water and sewer corporations file a RSM rate schedule or revised RSM rate schedule within 30 days of the last day of each annual period, as defined in this act, in order to credit or surcharge each customer class for the difference in the corporation's actual revenues and its authorized revenues. The annual total of any RSM adjustments surcharged to residential customers shall not exceed 10% of the corporation's revenue as approved in the corporation's most recently completed general rate proceeding. Any revenue not recovered due to this limitation shall be deferred for recovery in a subsequent recovery period. Any RSM rate schedule, or revised RSM rate schedule shall become effective within 30 days. Further, the Public Service Commission may review such RSM rate schedules for certain exclusive purposes set forth in this act. Under this act, any water or sewer corporation utilizing an RSM rate schedule is required to submit a report in each general rate proceeding on changes in water demands, and the measures the corporation has taken to educate consumers on water efficiency. This act requires that a water or sewer corporation's RSM rate schedule be updated during each general rate proceeding. Further, a water or sewer corporation may terminate such RSM rate schedule during a general rate proceeding, provided that certain rate adjustments occur as set forth in this act. Further, this act requires that the Public Service Commission file a report on the impact of RSM rate schedules with the Secretary of the Senate and the Chief Clerk of the House of Representatives by December 31, 2024. This act is similar to HB 243 (2017), SB 848 (2016), SS#1/HCS/HB 1717 (2016), and HB 2158 (2016). KAYLA HAHN
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