Bill > HB2747

This bill introduces several key provisions affecting electric utilities in Oklahoma. First, it modifies existing law to establish specific timelines and processes for Commission review of new electric generating facilities, with particular emphasis on natural gas-fired facilities, including provisions for competitive bidding, cost recovery, and rate adjustments. The bill creates a new mechanism allowing public utilities to defer 90% of depreciation expenses and returns for qualifying electric plants starting July 1, 2025, with a future prudence review by the Corporation Commission before incorporating these costs into rate bases. Additionally, the bill grants the Corporation Commission authority to oversee the development of high-voltage transmission lines, requiring competitive bidding processes overseen by an independent evaluator when electric cooperatives or retail suppliers extend transmission facilities. The bill also prohibits Commission rate-regulated retail electric suppliers from offering ratepayer-funded incentives to encourage switching from natural gas to electricity. These changes aim to provide more structured approaches to electric utility infrastructure development, cost recovery, and regulatory oversight, with a particular focus on natural gas generation and transmission infrastructure. The bill includes an emergency clause, meaning it would take effect immediately upon passage and approval.

Agriculture and Natural Resources, Budget and Finance, Transportation and Infrastructure

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2747&Session=2600