NC S340

Authorizes water and wastewater public utilities to use a fully projected future test period in rate making proceedings before the North Carolina Utilities Commission.

The projected future test period consists of the 12-month period beginning when new rates take effect after the full suspension period under G.S. 62-134.

When using a projected future test period, the Commission must determine the projected rate base at the end of that future period for rate-making purposes.

Requires the Commission to adopt rules regarding information and data utilities must submit when notifying intent to use a fully projected future test period in rate cases.

Permits facilities projected to be in service during the future test period to be included in the rate base, notwithstanding prior requirements that property must be currently used and useful.