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2020 SESSION

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HB 528 Electric generation facilities; SCC shall determine retirement of facilities.

Introduced by: Suhas Subramanyam | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

State Corporation Commission; retirement of coal-fired or natural gas-fired electric generation facilities. Requires the State Corporation Commission to determine the amortization period for recovery of any appropriate costs due to the early retirement of any coal-fired or natural gas-fired electric generation facilities owned or operated by any Phase I or Phase II Utility. The bill requires the Commission, in making such determination, to (i) perform an independent analysis of the remaining undepreciated capital costs; (ii) establish a recovery period that best serves ratepayers; and (iii) allow for the recovery of any carrying costs that the Commission deems appropriate.

SUMMARY AS PASSED HOUSE:

State Corporation Commission; retirement of coal-fired or natural gas-fired electric generation facilities. Requires the State Corporation Commission to determine the amortization period for recovery of any appropriate costs due to the early retirement of any coal-fired or natural gas-fired electric generation facilities owned or operated by any Phase I or Phase II Utility. The bill requires the Commission, in making such determination, to (i) perform an independent analysis of the remaining undepreciated capital costs; (ii) establish a recovery period that best serves ratepayers; and (iii) allow for the recovery of any carrying costs that the Commission, in its sole discretion, deems appropriate.

SUMMARY AS INTRODUCED:

State Corporation Commission; retirement of coal fired or natural gas fired electric generation facilities. Requires the State Corporation Commission to determine when electric utilities should retire coal or gas fired electric generation facilities. The measure requires the Commission to submit the results of its conclusions to the General Assembly by July 1, 2021.