Summary of Original Version

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.

Statutes affected:
Introduced: 278.010, 278.016, 278.018, 278.020