H.P. 1423 - L.D. 1987
An Act to Amend Review Criteria Used by the Public Utilities Commission
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 35-A MRSA §3156, first ¶, as amended by PL 1995, c. 120, §2 and affected by §5, is further amended to read:
The commission may issue a certificate of approval for an electric rate stabilization agreement, following submission to it of an application for approval, in the form and with any supporting data as the commission may require. The commission shall issue or deny the certification within 60 120 days of receipt of an application.
Sec. 2. 35-A MRSA §3156, sub-§1, as enacted by PL 1993, c. 712, §6, is amended to read:
1. Benefits. The agreement, and any assistance in financing the agreement to be provided by the Finance Authority of Maine, will provide near-term substantial net benefits to ratepayers of the utility that will be reflected in rates paid by the electric utility's customers. The commission may consider whether alternative arrangements providing greater net benefits to ratepayers are reasonably likely to be available to the utility and may not issue a certificate if the commission concludes that such an alternative arrangement is reasonably likely to be available;
Sec. 3. 35-A MRSA §3156, sub-§2, as enacted by PL 1993, c. 712, §6, is repealed and the following enacted in its place:
2. Rate impacts. Near-term benefits to ratepayers will substantially exceed future adverse impacts estimated by the commission;
Effective June 30, 1998, unless otherwise indicated.
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