AK HB328

Public utilities may request commission approval for a strategic investment surcharge to recover costs for infrastructure investments not covered by existing approved rates

Recoverable costs include returns on construction work in progress, operating expenses during construction, returns on rate base when complete, and non-capitalized construction expenses

The Regulatory Commission must issue final orders on surcharge requests within 90 days and adopt regulations establishing the application process and calculation requirements

Strategic investments must support growth and economic development in Alaska while maintaining or improving reliable utility service to new and existing customers

Utilities must file annual updates with the commission, and any costs determined to be imprudently incurred must be refunded to customers through bill credits