SB 1247 - Under the act, prior to acquiring a stake, as defined in the act, in a transmission facility, an electrical corporation may file with the Public Service Commission an application for a determination of the rate-making principles and treatment as described in the act. Unless the Commission determines that the electrical corporation's stake in the transmission facility is not reasonable, the Commission shall issue an order setting forth rate-making principles and treatment that will apply to the electrical corporation's stake in the transmission facility. The Commission shall utilize the rate-making principles and treatment in all proceedings where the cost of the electrical corporation's stake in the transmission facility is considered. If the Commission fails to issue a determination within 180 days of the date of an application for a determination of rate-making principles and treatment, the rate-making principles and treatment will be deemed to have been approved by the Commission and shall be binding. If the electrical corporation's acquisition of a stake in a transmission facility requires a certificate of convenience and necessity, the electrical corporation may request such certificate by filing an application in the same proceeding as the application for a determination of rate-making principles and treatment, as described in the act. Prior to acquiring a stake or prior to retiring or abandoning a generating facility as described in the act, an electrical corporation may file with the Commission an application for a determination of the rate-making principles and treatment as proposed by the electrical corporation subject to certain conditions described in the act. Requirements for an order issued by the Commission in relation to the application, including a new rate adjustment mechanism and alternatives to the rate adjustment mechanism, are described in the act. In making its determination as to whether acquiring the stake in the generating facility is reasonable and necessary or convenient for the public service, the Commission shall be guided by the fact that it is in the interest of the state for electrical corporations to ensure that they own and operate sufficient generating resources to serve their retail load without undue reliance on any power pool, regional transmission operator or independent system operator market, or other resources as described in the act. The electrical corporation shall have one year from the effective date of the determination of the Commission to notify the Commission whether it will acquire a stake in the generating facility or transmission facility. Requirements for such notice are described in the act. JULIA SHEVELEVA