House Bill No. 2747, introduced by Caldwell (Trey), amends existing laws related to public utilities, specifically focusing on electricity regulations. The bill modifies requirements for electric utilities regarding the recovery of costs associated with transmission upgrades and capital expenditures necessary for compliance with various environmental laws. It establishes a new application window for utilities to seek approval for constructing or purchasing electric generation facilities, with specific timelines for the Corporation Commission to respond based on the fuel type used. Additionally, the bill introduces a separate rate adjustment mechanism for utilities to recover costs related to new natural gas-fired generation facilities, including provisions for refunds if projects are terminated.

The bill also creates new sections that allow public utilities to defer a significant portion of depreciation expenses and returns associated with qualifying electric plants, starting from July 1, 2025. It mandates that the Corporation Commission conduct prudence reviews of these deferrals before they can be included in the utility's rate base. Furthermore, the bill empowers the Commission to oversee the development of new high-voltage transmission lines and ensures that retail electric suppliers or rural electric cooperatives can construct and maintain their facilities under certain conditions. Notably, it prohibits rate-regulated electric suppliers from offering incentives to customers to switch from natural gas to electricity. An emergency clause is included, allowing the act to take effect immediately upon passage and approval.