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Committee backs electric rate-stabilization proposal to smooth utility rate swings, with ORS oversight
Summary
Senators advanced S.446, an electric rate-stabilization act modeled after the state’s gas program that would allow utilities to adjust rates more frequently to reflect investment and revenue changes, while requiring prudency reviews for very large new generating facilities.
The Senate Judiciary Committee advanced S.446, the Electric Rate Stabilization Act (ERSA), which would permit electric utilities to request periodic rate adjustments to reflect changes in investment, revenues and expenses rather than waiting for multi-year rate cases.
Breeden, committee staff, told members the proposal closely follows South Carolina’s natural-gas rate-stabilization framework with added customer protections. Under the bill as explained to the committee, utilities would file surveillance reports each quarter showing changes in…
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