MI HB4941

Requires electric utilities proposing to acquire new electric generation capacity, make significant investments in existing facilities, or purchase capacity through power purchase agreements to submit applications for certificates of compliance if the total incremental project cost is $100,000,000 or more.

Requires utilities proposing projects costing $500,000,000 or more to obtain certificates of necessity from the Michigan Public Service Commission, demonstrating need, environmental compliance, reasonable costs, and that the project represents the most prudent means of meeting power demand.

Mandates competitive bidding process for all projects, with an independent third-party evaluator handling request for proposals, evaluation, and recommendations to the commission within specified timeframes.

Establishes standards for integrated resource plans that utilities must file with the commission, including load forecasts, generation technology analysis, renewable energy projections, efficiency programs, and transmission options, subject to contested case hearings.

Allows utilities to recover reasonable and prudent costs for approved projects in retail rates, with costs exceeding 110% of approved amounts presumed imprudent unless the utility proves otherwise by preponderance of evidence.