CS/HB 7167 Summary

• Establishes alternative cost recovery mechanisms for utilities to recover costs from siting, design, licensing, and construction of nuclear and integrated gasification combined cycle power plants through the capacity cost recovery clause.

• Requires utilities to identify on customer bills the amounts attributable to recovery of costs authorized by the Public Service Commission under this section.

• Mandates utilities to file a petition within 1 year of obtaining a combined license from the Nuclear Regulatory Commission demonstrating intent to construct and that construction will remain cost-effective, based on updated cost estimates, construction schedules, and feasibility analyses.

• Limits cost recovery to the period until the plant is placed in commercial service, with a deadline of December 31, 2025, for nuclear power plants.

• Requires the Public Service Commission to conduct a comprehensive review by February 1, 2014, of any proposed nuclear plant if its inservice date has been extended more than 6 years or total costs have increased more than 50 percent, to determine whether to authorize recovery of new or future costs.