Bill > S0446

This bill establishes the Electric Rate Stabilization Act, which allows electric utilities in South Carolina to request annual rate adjustments from the Public Service Commission through a structured process. Under this act, a utility can elect to have its rates reviewed quarterly, with detailed monitoring reports submitted that track financial performance, including metrics like net plant in service, operating expenses, revenues, and return on equity. The Public Service Commission will establish a specific range for the utility's cost of equity (within 0.50 percentage points above and below a baseline), and if the utility's earnings exceed or fall below this range, it must calculate and propose corresponding rate adjustments. The Office of Regulatory Staff will review these reports, conduct audits, and recommend rate changes. The bill also includes provisions for a formal review process where interested parties can intervene and comment, and it requires a final order by December 31st that sets corrected rates and addresses any over- or under-collection of revenues. Notably, the bill limits the utility's ability to include investments in large new generating facilities (over 250 megawatts) in its rate calculations outside of a full rate proceeding and authorizes the Office of Regulatory Staff to create additional positions to oversee this process, with costs to be assessed equally among the regulated electric utilities.

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https://www.scstatehouse.gov/billsearch.php?billnumbers=0446&session=126&summary=B