SB 48 - The act modifies provisions relating to regulation of electrical corporations by the Public Service Commission. AMOUNTS INCLUDED IN CONSTRUCTION WORK IN PROGRESS (Section 393.135) Under the act, an electrical corporation shall be permitted to include in the corporation's rate base any amounts recorded to construction work in progress for any new natural gas generating unit. The Public Service Commission shall determine the amount of construction work in progress. Specifics of the amount are described in the act. Base rate recoveries arising from inclusion of construction work in base rates are subject to refund, as described in the act. These provisions shall expire on December 31, 2035, unless the Commission determines that good cause exists to extend these provisions through December 31, 2045. The secretary of the Commission shall notify the revisor of statutes when the conditions for the extension have been met. This provision is identical to a provision in HB 1084 (2025), a provision in SB 214 (2025), a provision in SB 610 (2015), and similar to a provision in SS#2/SB 4 (2025), a provision in SCS/SB 186 (2025), a provision in SB 618 (2025), a provision in HB 963 (2025), a provision in HB 853 (2025), a provision in HB 92 (2025). INTEGRATED RESOURCE PLANNING (Section 393.1900) Under the act, by August 28, 2026, the Public Service Commission, and every four years as needed thereafter, shall commence an integrated resource planning proceeding for electrical corporations. The Commission's responsibilities pursuant to the integrated resource planing proceeding are described in the act. No later than August 28, 2027, the Commission shall publish a schedule for electrical corporations to file an integrated resource plan every four years. Each integrated resource plan shall include an alternative resource plan meeting the requirements under the act. All alternative resource plans shall cover a minimum 16-year planning horizon. All such plans shall reflect projections of an electrical corporations's load obligations and how an electrical corporation under such plan would reliably meet its projected load obligations. Other requirements to be included in the plan are described in the act. After a hearing, the Commission shall issue a report and order no later than 360 days after the electrical corporation files an integrated resource plan, unless the Commission grants itself an extension for good cause for the issuance of the report and order. Up to 150 days after an electrical corporation makes its initial integrated resource plan filing, the electrical corporation may file an update of the cost estimates if the cost estimates have materially changed. The Commission's report and order shall determine whether the electrical corporation has submitted sufficient documentation and selected a preferred resource plan representing a reasonable and prudent means of meeting the electrical corporation's load serving obligations at just and reasonable rates. In making this determination, the Commission shall consider whether the plan appropriately balances specific factors described in the act. If the Commission determines that the preferred resource plan is a reasonable and prudent means of meeting the electrical corporation's load serving obligations, such determination shall constitute the Commission's permission for the electrical corporation to construct or acquire the specified supply-side resources that were reflected in the implementation plan, as described in the act. When the electrical corporation files an application for a certificate of convenience and necessity to authorize construction or acquisition of such resources, the Commission shall be deemed to have determined that the supply-side resources are necessary or convenient for the public interest. In the certificate of convenience and necessity proceeding, the Commission's inquiry shall be limited, as described in the act. If the Commission determines that the preferred resource plan is not a reasonable and prudent means of meeting the electrical corporation's load serving obligations, the Commission shall have the authority to specify in its report and order the deficiencies in the preferred resource plan. Procedures to cure the deficiencies as described in the act. If approved in a proceeding granting permission and approval to construct an electric plant, an electrical corporation may, subject to certain limitations, be permitted to include in its rate base any amounts recorded to construction work in progress for the investments for which permission is granted. The inclusion of construction work in progress shall be in lieu of any applicable allowance for funds used during construction that would have accrued from the effective date of new base rates that reflect inclusion of the construction work in progress in rate base. The Commission shall determine the amount of construction work in progress that may be included in rate base, as described in the act. The amount shall be limited by specifics described in the act. This provision is identical to a provision in SB 214 (2025), a provision in 610 (2025), a provision in SB 618 (2025), and similar to a provision in HB 92 (2025), a provision in HB 853 (2025), a provision in HB 963 (2025), a provision in SS#2/SB 4 (2025), a provision in SCS/SB 186 (2025). JULIA SHEVELEVA