Bill > S0194

This bill establishes an alternative procedure for the Florida Public Service Commission to approve a rate base value for utility systems that are acquired by other utilities. The key provisions include: - Allowing utilities that acquire existing water or wastewater systems to petition the Commission to establish a rate base value using this alternative process instead of the standard cost method. - Requiring the acquired system to be appraised by three licensed appraisers, with the final rate base value not exceeding the lesser of the purchase price or the average of the three appraisals. - Specifying the required contents of the petition, including a 3-year plan to address any deficiencies identified in the system's assets. - Directing the Commission to consider factors like improvements to service quality, compliance, rate reductions, cost efficiencies, and economies of scale when evaluating the petition. - Allowing the Commission to set performance goals and review utility performance in future rate cases. The bill aims to promote consolidation efforts and encourage economies of scale in the water and wastewater utility sectors.

Budget and Finance

Regulated Industries (S)

https://www.flsenate.gov/Session/Bill/2023/194