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 and implement 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 resiliency, particularly in response to severe weather events and other disruptions.

Additionally, the bill mandates that electrical utilities submit an initial investment plan to the commission, which must review and decide on the plan within 135 days. It allows utilities to defer costs related to the planning and implementation of these programs in their rate base, with the potential for recovery of reasonable and prudent costs through applicable rates and charges. This includes various expenses such as capital, financing, and operational costs directly associated with the targeted investment program. The act will take effect upon the Governor's approval.

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