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ALEC Utility Construction Review Act

ALEC Utility Construction Review Act

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Published by: ALEC Watch on Jul 13, 2011
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Part VII: Environment, Energy and Natural Resources W
UTILITY CONSTRUCTION REVIEW ACTALEC’s models Utility Construction Review Act is designed to ensure adequate and reliable electric powersupply at the availability of a reasonable cost through reducing risks and uncertainties from the rate reviewprocess and encourage utilities to provide new capacity. Key components of the Act include: a provision forcertificate review of electric power plants under construction and investment recovery under certaincircumstances and a provision for construction progress reports.
Model Le@slation
Section 1. {Short Title.} This act shall be known and may be cited as the Utility Construction Review Act.Section 2. {Legislative findings and declarations.} The Legislature finds and declares that:(A) An adequate and reliable electric power supply, available at a reasonable cost to the residents,commerce, and industry of the state is necessary to maintain both a healthy economic climate in the state andthe general well-being of its residents; and(B) To better assure the required financing for those new electric generating facilities approved to meetincreased demand, the procedure for regulatory review of construction costs must be equitable, predictable,and orderly.Section 3. (Definitions.} The following words and phrases when used in this act shall have the meaningsgiven to them in this section unless the context clearly indicates otherwise:(A)“Certificate.” The certificate of public convenience. and necessity (or insert the appropriate priorauthorization by the commission required for the utility to begin facility construction).W“Commission.” The
{insert appropriate statepublic utility commission}.CC)
“Facility.” An electric generation facility regulated by the commission.0“Utility.” Any electric generating utility allowed by state law to cam a regulated return on itsinvestment.Section 4. {Certificate review and investment recovery.)(A) Commission review. When, in the opinion of the commission, changes in the estimate of probable futuregrowth of the use of electricity so indicate, the commission shall commence a review of any certificatepreviously granted to determine whether the. public convenience and necessity continues to require thefacility under construction. If the commission finds that completion of the facility under construction is nolonger in the public interest, the commission may modify or revoke the certificate.(B) Investment recovery. If the public utility cancels construction of the facility as a result of themodification or revocation of the certificate, it may recover, over a reasonable period of time, through rates,absent fraud, concealment, or gross mismanagement, the amount of its investment in that facility, along witha reasonable return on the unamortized balance.Recovery may not be challenged on the basis ofassumptions regarding probable future growth of the use of electricity.Section 5. (Construction progress reports.](A) Reporting requirements. The commission shall, at the request of the public utility, maintain an ongoingreview of facility construction as it proceeds. The applicant shall submit each year during construction, or at
Volume II: Sourcebook ofAmerican State Legislation I99572

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