TX HB4384

Allows gas utilities to defer for future recovery as a regulatory asset the post in-service carrying costs, depreciation, and ad valorem taxes associated with plant, facilities, or equipment that has been placed in service but whose costs are not yet recovered in rates

Defines "post in-service carrying costs" as the unrecovered gross plant amount multiplied by the utility's pre-tax weighted average cost of capital established in its most recent general rate proceeding

Requires regulatory assets established under this section to be included in the Railroad Commission's authorized cost recovery mechanism

Railroad Commission must review deferred costs in general rate proceedings and may order refunds with interest for any costs disallowed for recovery

Railroad Commission must adopt implementing rules within 270 days of the effective date; applies only to cost recovery proceedings commenced after the act takes effect (immediately with two-thirds vote or September 1, 2025)