SSB 1059

This bill relates to plan, update, and budget review of rate-regulated electric utilities by the Iowa utilities board. The bill removes electric utilities from the filing of forecasts for future electric generating needs. Current law requires electric public utilities to file a forecast with the Iowa utilities board (board) which includes anticipated customer requirements, supply sources, and future electric generating needs. The bill strikes intent language relating to electric energy policies and emissions. The bill modifies the type of rate-regulated public utility that is subject to developing a multiyear plan and budget with the board to include all rate-regulated public utilities owning or operating an electric power generating facility instead of rate-regulated public utilities owned by one or more electric power generating facilities fueled by coal and located in Iowa on July 1, 2001. _____ reliable, secure, and low-emission electricity at the lowest cost. The bill provides that the plan and budget shall include information relating to electricity requirements for the area, needs for the electricity project, future potential demand capabilities, future nonutility energy resources in the area, efficient planning, alternative planning, and other information the board requires. The bill updates the date for the filing of the initial multiyear plan and budget to be April 1, 2024, and modifies subsequent plan and budget update requirements in a contested case proceeding. The bill provides that every months, subsequent updates shall be considered in a contested case proceeding, except where the board determines an earlier update is necessary. The bill maintains the requirement for the department of natural resources (DNR) to state whether a plan or update meets applicable state or environmental laws and strikes language relating to the DNR to recommend plan adaptations. The bill adds criteria for the board to use in determining whether a plan or update and associated budget balance costs and other considerations. Current law provides that the board shall reject a plan or update that does not meet applicable state environmental requirements or federal standards as determined by the DNR, and that the board shall review and approve the plan, update, and budget if the plan, update, and budget are reasonably expected to achieve cost-effective compliance with applicable state environmental requirements and federal standards. The bill strikes provisions relating to subsequent extensions of timelines for a public utility’s filing of a plan, update, or budget. The bill provides that a utility may modify plans and provide notice to the board. _____ requesting more information. The bill strikes the intent language providing that the board has ability to limit certain investments or expenditures. The bill provides that the board shall adopt rules concerning plan and budget submission. The bill takes effect upon enactment.