DIGEST OF INTRODUCED BILL
Rate recovery for new generating facilities. Requires the utility regulatory commission (IURC) to issue an order approving or denying an application for a certificate of public convenience and necessity for: (1) the construction, purchase, or lease of an electric generating facility; or (2) the use of clean coal technology at an electric generating facility; not later than 120 days after the date of the application, unless the IURC finds that the applicant has not fully cooperated in the proceeding. Allows an eligible business to apply to the IURC for a retail rate adjustment mechanism to provide for a linear recovery of the business's forecasted costs incurred in connection with a new energy generating facility. Allows the eligible business to begin recovering its forecasted costs under the retail rate adjustment mechanism beginning on the date on which all required certificates have been issued by the IURC.