§ 40-41-106 — Effect on commission jurisdiction - rules

(1) Except as
otherwise provided in subsection (2) of this section, if the commission issues a
financing order to an electric utility, the commission shall not, in exercising its
powers and carrying out its duties pursuant to this article 41:

(a) Consider the CO-EI bonds issued pursuant to the financing order to be
debt of the electric utility other than for income tax purposes;

(b) Consider the CO-EI charges paid under the financing order to be revenue
of the electric utility;

(c) Consider the CO-EI costs or financing costs specified in the financing
order to be the regulated costs or assets of the electric utility; or

(d) Determine any prudent action taken by an electric utility that is
consistent with the financing order to be unjust or unreasonable.

(2) Nothing in subsection (1) of this section:

(a) Prevents or precludes the commission from investigating the compliance
of an electric utility with the terms and conditions of a financing order and requiring
compliance with the financing order; or

(b) Prevents or precludes the commission from imposing regulatory
sanctions against a regulated electric utility for failure to comply with the terms
and conditions of a financing order or the requirements of this article 41.

(3) The commission may not refuse to allow the recovery of any costs
associated with the retirement of electric generating facilities by an electric utility
solely because the electric utility has elected to recover those costs through
traditional rate-making methods or to finance those activities through a financing
mechanism other than CO-EI bonds, whether or not a financing order with respect
to such costs has been applied for by the utility or issued by the commission.

(4) The commission may adopt rules to implement this article 41.

Legislative History

Source: L. 2019: Entire article added, (SB 19-236), ch. 359, p. 3325, � 26, effective May 30.