SB364 - AN ACT relating to retail electric suppliers.

5 Co-Sponsors

Create new sections of KRS Chapter 278 to direct the Public Service Commission to promulgate administrative regulations to require retail electric suppliers to file integrated resource plans on a triennial basis and include an assessment and acquisition plan for adequate and reliable electricity to meet customer demand at the lowest possible cost of forecasted estimates; require retail electric suppliers to maintain adequate service by owning or contracting capacity to meet customer demand; prohibit retail electric suppliers filing integrated resource plans to purchase capacity or energy from regional transmission organizations or independent system operators; make the privilege to serve customers in a certified territory a property right of the Commonwealth; require the Public Service Commission to allow the commission to determine an amount to be returned to customers of an electric retail supplier that is based on a calculation of the privilege to serve in a certified territory in a proceeding involving an acquisition, transfer, or sale of an electric retail supplier; amend KRS 278.010 to state that the term 'facility' may be used in singular or plural and 'adequate service' includes generating capacity; amend KRS 278.016 to state that retail electric supplier has the privilege to provide electric service; amend KRS 278.018 to state that retail electric suppliers have the privilege rather than right to furnish retail electric service in its certified territory; and if the Public Service Commission find that a retail electric supplier is not providing adequate service the Public Service Commission may order the supplier to correct the problem; allow the commission to authorize another retail electric supplier to serve facilities located in the certified territory of another retail electric supplier; amend KRS 278.020 to determine whether public ownership of a retail electric supplier can achieve lower rates and deem cooperatives organized under KRS Chapter 279 to have public ownership.