The bill amends the existing law governing the regulation and control of public utilities in Michigan, specifically focusing on the processes surrounding the acquisition, control, or merger of jurisdictional regulated utilities. It establishes that no person or utility may engage in these activities without first obtaining approval from the Michigan Public Service Commission (PSC). The bill outlines the necessary application process, which must include detailed information about the proposed transaction, such as its terms, projected impacts on rates and services, and relevant financial statements. Additionally, it sets timelines for public comments and PSC decisions regarding these applications.

Key provisions of the bill include the requirement for the PSC to consider various factors when evaluating proposed transactions, such as potential impacts on customer rates and service reliability. The bill also allows the PSC to impose reasonable terms and conditions to protect both the utility and its customers during such transactions. Furthermore, it clarifies that nonpublic information submitted by utilities is exempt from disclosure under the Freedom of Information Act, and it reaffirms the authority of the Attorney General to enforce antitrust laws. The bill includes several insertions and deletions to refine the language and clarify the processes involved.

Statutes affected:
Senate Introduced Bill: 460.6