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2009 SESSION

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HB 2519 Electric utilities; SCC to establish procedures regarding refunds of moneys collected.

Introduced by: Clarence E. Phillips | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Electric utilities; over-recovery of fuel costs.  Requires the State Corporation Commission (SCC) to review fuel costs if it approves an increase in fuel factor charges that would increase the total rates of residential customers by more than 20 percent, which review shall be conducted within six months after the effective date of the increase. If the SCC finds that the utility is in an over-recovery position with respect to its fuel costs by more than five percent, it may reduce the fuel costs.

SUMMARY AS INTRODUCED:

Electric utilities; over-recovery of fuel costs.  Requires the State Corporation Commission (SCC) to establish procedures regarding refunds by electric utilities of moneys collected from fuel cost tariffs in excess of actual fuel costs. The measure directs the SCC to continuously review fuel costs of all electric utilities and, if the SCC finds that a utility is in an over-recovery position, or likely to be so, to reduce the fuel cost tariffs to correct the over-recovery or require the utility to refund over-recoveries to customers. Currently, the SCC is authorized to review the fuel costs only of those utilities not bound by a rate case settlement that extended in its application beyond January 1, 2002, and if it finds that such a utility is in an over-recovery position, or likely to be so, the SCC is authorized to reduce its fuel cost tariffs to correct the over-recovery.