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House narrowly approves utility bill that lets ratepayers start paying early for small modular reactor projects
Summary
House passage of Senate Bill 424 authorizes utilities to seek recovery of early project development costs for small modular reactors (SMRs) under regulatory oversight; supporters said it aids development and rate stability, critics said it shifts substantial financial risk to ratepayers. The bill passed 59–30.
The Indiana House passed Senate Bill 424 after a heated debate over whether the measure fairly allocates financial risk for small modular reactor (SMR) development.
Senate Bill 424 allows utilities to petition the Indiana Utility Regulatory Commission (IURC) for approval to recover specified project development costs (design, engineering, permitting, licensing, carrying costs and related activities) on a phased basis while projects are still under development. Representative Soliday, speaking for the bill, said the statute includes safeguards: utilities must petition the IURC with detailed plans, the IURC must find the costs reasonable before allowing…
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