HB 1083 Summary

• Requires the Indiana Utility Regulatory Commission (IURC) to review and revise utility basic rates and charges within two years of approving any rate adjustment mechanism for energy utilities.

• Mandates the IURC use general rate case procedures when conducting the required review of utility rates.

• Allows utilities to seek additional rate adjustment mechanisms while a review is pending, and permits the IURC to combine reviews of multiple rate adjustment mechanisms.

• Applies to rate adjustment mechanisms approved after December 31, 2011, and is effective retroactively to January 1, 2012.

• Modifies existing law to require periodic rate reviews for utilities with rate adjustment mechanisms occur as frequently as required under the new section, rather than the standard four-year review cycle for utilities without such mechanisms.