The proposed bill would amend current statutes by adding a new section to Title 40, Chapter 2, Article 7 of the Arizona Revised Statutes, specifically addressing utility rate schedules. It mandates that the Arizona Corporation Commission (ACC) must consider "fair value" when determining just and reasonable rates, as outlined in Section 40-361. Additionally, both the ACC and public utilities are required to publish their tariff schedules, which must include an amortization schedule detailing how costs associated with regulatory assets are recovered over time. The bill also specifies that the unamortized balance should be reduced by the revenue collected from customers for amortization expenses.

Furthermore, the bill defines "fair value" and "public utility," clarifying that "fair value" encompasses the book value of utility property at the time services are provided and includes the unamortized balance on the utility's books. The legislative intent is to ensure that the ACC and public utilities publicly post these tariff schedules, allowing for public commentary on rate schedules set by the ACC. This update aims to enhance transparency and public engagement in the ratemaking process.

Statutes affected:
Introduced Version: 40-363