§ 48:19-34 — Carryover costs, RESIC-cap calculation.

6. a. All carryover costs permitted by this section and included in a RESIC rate shall be included in the calculation of the RESIC-cap. b. Notwithstanding any other provision of this section to the contrary, when a utility has commenced work on a RESIC-eligible project, but the eligible project has not been placed in-service during the period captured under an initial foundational filing, the eligible project may be considered a valid RESIC-eligible project in a subsequent foundational filing that is filed with the board prior to the resetting of rates under the initial foundational filing when the RESIC-eligible project began. c. When a RESIC-eligible project is placed in-service by a utility between the close of the test year and the effective date of rates in the base rate case, the utility may recover the costs of the project, as authorized by a board order approving a foundational filing, in the first RESIC filing under the board's new foundational filing order and included in the RESIC-cap. d. Unrecovered restoration costs of a project that was placed in-service during one foundational filing may be carried over and recovered in a subsequent foundational filing and included in a timely semi-annual RESIC filing, provided that the restoration costs shall otherwise be within the timeframe set forth in P.L.2023, c.315 (C.48:19-29 et seq.). L.2023, c.315, s.6.