MO HB398

Allows electric utilities to file petitions with the Missouri Public Service Commission to establish an Infrastructure System Replacement Surcharge (ISRS) to recover costs for eligible infrastructure replacements and additions, effective August 28, 2013.

ISRS revenues must be between one-half of one percent and eight percent of the utility's base revenue level from its most recent general rate proceeding, with commission approval required within 150 days of filing.

Eligible infrastructure projects include electric plant replacements, environmental or safety compliance costs, and facility relocations required by public works projects, excluding generating plants and administrative buildings.

Utilities may adjust ISRS rates no more than twice per year, must reconcile revenues annually against approved amounts, and ISRS approval does not limit the commission's authority to review cost prudence in future general rate proceedings.

Establishes a tracking mechanism for utilities to defer labor, benefits, transmission, property, and insurance cost differences between rate case estimates and actual costs, to be recovered through amortization over three years in the next rate proceeding, with section 393.1215 expiring August 27, 2025.