MO HB784

Requires Missouri electrical corporations to file resource plans with the Public Service Commission every three years and use a competitive request for proposals (RFP) process when acquiring or constructing supply-side resources of 5 megawatts or more with contracts of 18 months or longer

Mandates an independent evaluator, selected through a separate RFP process and paid by the electrical corporation, to review all bids while keeping pricing and proprietary information confidential

Allows electrical corporations to submit self-build options that must be evaluated identically to third-party bids, but prohibits recovery of any self-build costs exceeding the amounts proposed in the original bid

Creates a presumption that costs from the RFP process and new resource acquisition are reasonable and prudent, though the commission may deny cost recovery for imprudence or failure to ensure competitive bidding

Requires the Public Service Commission to establish the transparent RFP process with stakeholder input by August 28, 2016, and promulgate implementing rules