This bill amends the existing legislation governing public and private utilities in Michigan, specifically focusing on the regulation of energy suppliers and electric vehicle charging services. Key changes include the introduction of definitions for "advanced nuclear reactor technologies," which encompass improvements to nuclear facilities that enhance safety and efficiency, as well as the inclusion of existing electricity-generating facilities that have undergone life cycle management. The bill also updates various definitions related to electric utilities, electric vehicles, and securitization processes, ensuring clarity in the regulatory framework.

Additionally, the bill abolishes certain outdated terms and provisions, such as the Michigan public utilities commission, transferring its powers to a newly established public service commission. It emphasizes the need for transparency in rate adjustments by prohibiting certain rate increases without prior notice and hearings. The bill also mandates the collection of securitization charges to recover qualified costs, ensuring that these charges are nonbypassable and must be collected by electric utilities or their successors. Overall, the amendments aim to modernize the regulatory landscape for energy in Michigan, promoting advanced technologies and consumer protection.

Statutes affected:
House Introduced Bill: 460.10