HB3179: Relating to public utilities; declaring an emergency.

Legislative Summary

Tells the PUC to look at the economic impact of a proposed residential rate or schedule of rates. Allows the PUC to adjust rates to mitigate an increase. (Flesch Readability Score: 65.7). [Digest: Tells the PUC to look at the economic impact of a proposed rate or schedule of rates if the rates lead to certain revenue results. (Flesch Readability Score: 63.0).] Directs the Public Utility Commission to consider the cumulative economic impact of [a proposed rate or schedule of rates on a public utility's ratepayers if the proposed rate or schedule of rates will result in an increase of the public utility's revenue in this state by 2.5 percent or more.] an electric or natural gas company's proposed residential rate or schedule of rates. Requires an electric or natural gas company to file an analysis of the cumulative economic impact on the company's residential rate payers if the company's return on equity is subject to review and modification. [Modifies the commission's general powers to give the commission broad discretion in setting rates.] Authorizes the commission to adjust rates to mitigate [or phase in an increase in rates if the increase would affect the ability of customers to maintain adequate utility services or could materially affect the economy of the state.] an increase in residential customer rates if the increase would affect the ability of customers to maintain adequate utility services. Prohibits any increase in residential rates from taking effect from November 1 to March 31. Directs the commission to require an electric or natural gas company to establish a multiyear rate plan for certain rate revisions. Prohibits, until January 2, 2027, or the date the commission adopts rules regarding multiyear rate plans, certain rate increases from taking effect within 18 months from the date of the last rate increase. Authorizes a public utility, upon approval by the commission, to issue bonds and securitize debt for costs and expenses incurred or to be incurred by the public utility associated with [capital investments that are approved by the commission.] certain capital investments, retiring a generation asset, environmental remediation or an event in which the availability of electricity or natural gas within a regional energy market is significantly constrained. [Requires a public utility that provides electricity or gas services to provide and make public a visual representation of cost categories included in the public utility's residential customer rates for the preceding calendar year.] [Requires a public utility to provide and make public a quarterly report on any rate adjustments the public utility expects within the next 12 months.] Requires an electric or natural gas company to provide and make public a visual representation of cost categories included in the company's residential customer rates and a report on any rate adjustments the company expects within the next 12 months. Declares an emergency, effective on passage.