SB 240 Summary

• Adds requirement for commission orders to specify annual net write-offs incurred by gas corporations providing service to system sales customers, with 90 percent of net increases or decreases deferred for recovery or return to customers over a period not exceeding five years.

• Increases maximum Infrastructure System Replacement Surcharge (ISRS) revenues from 10 percent to 13 percent of a gas corporation's base revenue level approved in its most recent general rate proceeding.

• Extends the timeframe requirement for general rate proceedings from three years to five years before a gas corporation can collect an ISRS.

• Extends the maximum ISRS collection period from three years to five years unless the gas corporation has filed for or is subject to a new general rate proceeding.

• Declares section 393.1012 changes effective immediately upon passage and approval as an emergency measure to stabilize consumer rates.