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S.B. 1
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VETOES
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companies to obtain electricity supply for certain extended service to certain
customers in certain manners; authorizing the Commission to take certain
actions concerning certain competitive auctions and implementation of certain
electricity rates; authorizing the procurement of electricity supply for certain
service in certain manners, including by a competitive process that includes
certain methods and strategies and by negotiated bilateral contracts;
authorizing the rejection of certain bids in accordance with certain standards;
requiring the disclosure of certain information concerning certain bids and
contracts; authorizing the Commission to require or allow the construction or
acquisition of certain facilities by certain electric companies; requiring the
Commission to conduct certain proceedings if certain electric rates are to
increase by certain amounts; authorizing the recovery of certain deferred costs
in certain manners in accordance with certain plans and certain provisions;
altering the amount and sources of funds to be assessed for the Electric
Universal Service Program each year; altering the eligibility of certain
customers for the Program; authorizing bill assistance under the Program to be
paid on a monthly basis; requiring the collection of certain funds for the
Program in a certain manner; authorizing an electric company to file certain
rate stabilization plans and tariffs with the Commission; providing for the
deferral and collection of certain costs and expenses; providing for the
establishment and characteristics of rate stabilization property; providing for
the issuance of qualified rate orders for certain purposes under certain
circumstances; providing for the issuance of certain rate stabilization bonds for
certain purposes; providing for the establishment, collection, and adjustment of
certain rate stabilization charges in certain manners; providing for certain
property rights in certain rate stabilization property; providing that certain
transfers of certain property are true sales; requiring disclosure of certain
information to certain consumers in a certain manner; providing for certain
actions in the event of certain defaults; establishing certain rights and duties for
a successor to an electric company for certain purposes; establishing certain
maximum rates for certain residential electric customers for certain periods;
providing for the deferral and collection of certain costs and expenses of certain
electric companies related to those customers in certain manners; providing for
the determination and application of certain credits of a certain amount for a
certain number of years by certain electric companies in certain manners;
providing that this Act binds the Commission and any successor body in a
certain manner; repealing a credit against the corporate income tax for certain
property taxes paid on certain operating real property used to generate
electricity for sale; providing for the distribution of certain corporate income tax
revenue for a certain fiscal year to a certain special fund; altering certain
provisions relating to acquisition and issuance of stock and debt by certain
public service companies incorporated in the State to apply to public service
companies operating in the State; prohibiting the lending of money from a
public service company to an affiliate on certain terms without the prior
approval of the Commission; prohibiting a person from acquiring certain public
service companies without the prior approval of the Commission; providing for
the application and review of certain proposed acquisitions; requiring the
disclosure of certain information by certain persons in connection with certain
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- 140 -
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