The bill S. 329 aims to amend the South Carolina Code of Laws by adding Section 58-33-195, which authorizes and encourages electrical utilities to establish targeted investment programs focused on enhancing the reliability, resiliency, and modernization of their distribution and transmission systems. The bill outlines that electrical utilities can seek approval for these programs, which are intended to improve service reliability, reduce outage risks, and enhance the electrical grid's resilience, particularly in response to severe weather events and other disruptions. The programs may also incorporate emerging technologies to modernize the grid.

Additionally, the bill stipulates that electrical utilities must submit an initial investment plan to the commission, which will review and decide on the plan within 135 days. Utilities are allowed to defer costs related to the planning, development, and implementation of these programs as regulatory assets, which can be included in their rate base. Costs deemed reasonable and prudent by the commission can be recovered through applicable rates and charges, covering various expenses associated with the targeted investment program. The act will take effect upon approval by the Governor.

Statutes affected:
02/11/2025: 58-33-195
Latest Version: 58-33-195