AMENDMENT(S) PROPOSED BY THE SENATE

COMMERCE AND LABOR

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a.

COMMERCE AND LABOR

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As used in this subsection, the term “competitive regional electricity market” means a market in which competition, and not statutory or regulatory price constraints, effectively regulates the price of electricity.

COMMERCE AND LABOR

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b. If, in establishing a distributor’s default service generation rates, the Commission is unable to identify regional electricity markets where competition is an effective regulator of rates, then the Commission shall establish such distributor’s default service generation rates by setting rates that would approximate those likely to be produced in a competitive regional electricity market. Such proxy generation rates shall take into account: (i) the factors set forth in subdivision C. 4. a., and (ii) such additional factors as the Commission deems necessary to produce such proxy generation rates.

COMMERCE AND LABOR

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an incumbent electric utility

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a distributor

COMMERCE AND LABOR

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cost-of-service

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cost plus

COMMERCE AND LABOR

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In addition, the Commission shall, in exercising its responsibilities under this section and under § 56-90, consider, among other factors, the potential effects of any such transfer on: (i) rates and reliability of capped rate service under § 56-582, and of default service under § 56-585, and (ii) the development of a competitive market in the Commonwealth for retail generation services. However, the Commission may not deny approval of a transfer proposed by an incumbent electric utility, pursuant to subdivisions 2 and 4 of subsection B, due to an inability to determine, at the time of consideration of the transfer, default service prices under § 56-585.