MO SB1716

Removes provisions allowing electrical corporations to include construction work in progress (CWIP) for new natural gas generating units in their rate base, eliminating the December 31, 2035 expiration date and extension process for this authority

Modifies refund requirements for CWIP costs, making base rate recoveries subject to refund with interest if construction costs are found to be imprudently incurred or "otherwise unreasonable," removing the specific requirement that projects be placed in service within a reasonable time

Eliminates the future test year option for gas, water, and sewer corporations that would have allowed rates to be set based on projected costs for the 12 months following the operation of law date, along with associated reconciliation and update requirements

Removes rulemaking requirements that would have required the Public Service Commission to promulgate implementation rules by July 1, 2027

Retains commission authority to consider changes in business risk from any adjustment mechanism when setting a corporation's allowed return in rate proceedings