The proposed bill would update current statutes by mandating that electric public service corporations submit an integrated resource plan to the Arizona Corporation Commission (ACC) for review and approval at least once every three years. This plan must include detailed projections of energy demand for the next 15 years, an analysis of existing and future electric generation plants, and a comprehensive cost analysis of capital and operating expenditures. Additionally, the bill requires an independent evaluation of the resource plan prior to ACC approval, ensuring verification of the information provided and consideration of alternative analyses.

Moreover, the bill introduces specific requirements for the integrated resource plan, such as assessing reliability, cost-effectiveness, and environmental impacts, while defining key terms like "ratepayer impact measure test." It also prohibits public service corporations from implementing compensation policies that conflict with their obligation to provide reliable service. The approved integrated resource plan would serve as evidence of known conditions for three years, unless new substantial evidence arises, thereby enhancing accountability and transparency in the electric utility sector in Arizona.

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