AR SB537

Establishes the Electric Ratepayer Protection Act of 2017 to require Arkansas Public Service Commission review and approval of transactions involving municipal electric utility systems and merchant transmission providers before they may be consummated.

Requires municipal utilities and merchant transmission providers seeking to transfer functional control of electric transmission facilities to a regional transmission organization, sell transmission facilities to another merchant provider, or construct new transmission facilities to submit applications to the Arkansas Public Service Commission for review.

Empowers the Arkansas Public Service Commission to conduct public evidentiary hearings and approve or reject proposed transactions based on whether they serve the overall public interest, considering costs, benefits, and financial impacts on electric ratepayers.

Defines key terms including "annual transmission revenue requirement," "electric transmission facilities," "merchant transmission provider," "municipal electric utility system," and "regional transmission organization."

Declares an emergency effective upon Governor approval, expiration of veto period, or veto override to ensure the Arkansas Public Service Commission has immediate statutory authority to protect electric utility ratepayers.