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House Bill 1529


House Bill 1529

ARCHIVE (2003)

Latest Information

 

DIGEST OF HB1529 (Updated February 17, 2003 4:31 PM - DI 84)


Utility mergers and IURC enforcement authority. Includes in the value of a utility's property for ratemaking purposes the value of certain qualified property. Allows an energy utility to recover through a retail rate adjustment mechanism certain government mandated costs incurred in providing retail energy service. Allows a public utility providing electric or gas service to implement rates proposed by the utility in a petition for a change in its basic rates if the utility regulatory commission (IURC) fails to issue an order on the petition within nine months. Requires the utility to refund to customers any difference between the rate implemented and the higher of the rates finally approved or previously in effect. Provides that certain transactions involving a utility company may not occur without IURC approval if the transaction will cause at least 50% of the company's voting stock to be held by different interests. Allows the IURC to impose a civil penalty of up to $5,000 if a public utility providing specified services or a rural electric membership corporation (REMC) violates any utility law or fails to comply with certain IURC rules or orders. Allows the IURC to impose an additional penalty of up to $10,000 if the violation or failure demonstrates a disregard by the public utility or REMC of its duty to remedy the violation or failure. Provides that public utilities subject to any environmental law may submit voluntary environmental compliance plans to the IURC. Repeals references to the federal Clean Air Act in the provisions concerning environmental compliance plans.
Current Status:
 In Committee - 2nd House
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