Relating to rate regulatory proceedings before the utilities board within the utilities division of the department of commerce

This bill relates to rate regulatory proceedings before the utilities board within the utilities division of the department of commerce. Current law provides that a public utility shall not, without the approval of the board, make a subsequent filing of an application for a new or changed rate, charge, schedule, or regulation that relates to services for which a rate filing is pending within months following the date the prior application was filed or the board has issued a final order on the prior application, whichever date is earlier. 33.33 from filing an application for a new or changed rate, charge, schedule, or regulation until after the date the board has issued a final order related to the subsequent proceeding unless the public utility applies to the board for authority and receives authority to make a subsequent filing.33 shall not propose the use of multiple future test years in the same rate regulatory proceeding. The bill requires the board to adopt rules governing proceedings subsequent to the effective date of a rate resulting from a rate regulatory proceeding utilizing a future test year. The bill provides such rules shall establish parameters for determining refunds, reduced rates, and increased rates. The bill provides the subsequent proceeding shall be based upon months of data beginning from the date that the rates based upon a future test year became effective, and the bill requires the board to conduct a hearing within days after the public utility files the data with the board. The bill also requires the board to adopt rules establishing filing requirements for the subsequent proceeding, procedural rules, and standards of reasonableness for the determination of whether the actual costs and revenues are reasonably consistent with those approved by the board.