The proposed bill would update current statutes by introducing a new requirement for electric public service corporations to submit an integrated resource plan to the Arizona Corporation Commission (ACC) every three years. This plan must include detailed projections of energy demand for the next 15 years, a summary of existing electric generation plants, identification of future generation needs, and analyses of costs and reliability. Additionally, the bill mandates an independent evaluation of the resource plan to ensure accuracy and consideration of alternative scenarios before the ACC grants approval.

Moreover, the bill specifies that the approved integrated resource plan will not bind future rate cases and will serve as evidence of known conditions during the three-year period unless new substantial evidence arises. It also prohibits compensation policies that conflict with the corporations' obligation to provide reliable service. These updates aim to enhance the regulatory framework, ensuring greater transparency, reliability, and accountability in the planning and operation of electric utilities in Arizona.

Statutes affected:
Introduced Version: 40-104
House Engrossed Version: 40-104