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2008 SESSION

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SB 145 Natural gas utilities; recovery of funds for capital projects.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Natural gas utilities; recovery of capital costs. Establishes a mechanism for a natural gas utility that places a strategic natural gas facility into service on or after July 1, 2008, to recover the entire prudently incurred costs of the facility from the time construction is completed and the asset is placed in service until the State Corporation Commission establishes new rates. Recovery of these costs, which include an allowance for funds used during construction, shall be permitted by allowing the costs to be recorded in the utility's plant accounts and included in rate base for purposes of cost recovery in new rate schedules, in a rate base using the cost of service methodology, or in a performance-based regulation plan. Recovery shall be subject to Commission determination that the costs were prudently incurred. The measure neither authorizes nor denies the recovery of costs submitted to the Commission prior to January 1, 2008, where such costs were the subject of a final order that determined whether the costs were prudently incurred and provided for their accounting and ratemaking treatment.


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