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GA SB477
Bill
Status
Introduced
3/10/2010
Primary Sponsor
Robert Brown
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AI Summary
- Repeals Georgia Code Section 46-2-25(c.1), which authorized utilities to recover from customers the financing costs associated with constructing commission-certified nuclear generating plants before those plants begin commercial operation
- Eliminates the mechanism allowing utilities to charge customers through a separate rate tariff for construction work in progress (CWIP) financing costs, including costs based on actual debt and authorized equity capital
- Removes provisions that allowed deferred cost recovery over five-year amortization periods for nuclear plants certified by the Georgia Public Service Commission on or after January 1, 2009
- Repeals requirements for annual recalculation of recoverable financing costs and the commission's authority to authorize specific accounting treatment and review of those recovered costs
- Takes effect immediately upon approval by the Governor or upon becoming law without such approval
Legislative Description
Public Utilities; authority of a utility to recover from customers the costs of financing the construction of nuclear generating plant; provisions
Last Action
Senate Read and Referred
3/10/2010
Committee Referrals
Regulated Industries and Utilities3/10/2010
Full Bill Text
No bill text available