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PURA stay-out waiver sparks debate: utilities seek certainty; OCC warns of utility leverage
Summary
PURA's draft requires utilities to say, within ten days after a rate case decision, whether they will accept a multiyear PBR plan and the associated stay-out. Utilities told commissioners that the provision gives needed clarity; the Office of Consumer Counsel said the language could give utilities leverage and urged alternative handling that does
A procedural provision in PURA’s draft Performance-Based Ratemaking orders — the ‘‘stay-out’’ waiver — drew sharp attention at oral argument, with investor-owned utilities saying it provides necessary certainty and the Office of Consumer Counsel warning it could give utilities undue leverage in settlement negotiations.
Under the draft approach described at the hearing, after the initial litigated rate decision that sets the going-in revenue requirement, the utilities would be asked to respond promptly (the draft references a ten-day window) whether they accept a multiyear rate plan (the PBR multiyear rate plan) and agree to the associated waiver of the routine right to file a rate case during the plan’s term. Utilities said that process gives stakeholders and the authority early clarity about…
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