Amends the Indiana Code chapter concerning federally mandated requirements for energy utilities as follows: (1) Specifies that for purposes of the statute, "federally mandated costs" include the following: (A) Costs that an energy utility has incurred, or estimates that it will incur, in connection with a compliance project. (B) Costs that are directly related to the preparation and conduct of a regulatory proceeding. (C) Costs related to a compliance project and incurred by an energy utility before the date of: (i) the energy utility's application to the Indiana utility regulatory commission (IURC) for a certificate of public convenience and necessity (certificate) with respect to the compliance project; or (ii) the IURC's order with respect to the application; if the IURC finds the costs are just and reasonable. (2) Provides that an energy utility's application for a certificate for a compliance project must be filed either: (A) before; or (B) within a reasonable time with respect to; any federally mandated compliance date. (3) Specifies that recovery of the 80% of IURC-approved federally mandated costs that an energy utility may recover through a rate adjustment mechanism must commence no earlier than: (A) the date of a final agency action regarding the federally mandated requirement; or (B) in the absence of a final agency action, the date on which the federally mandated requirement becomes effective. Requires a public utility to notify the IURC if: (1) the public utility intends or decides to retire, sell, or transfer an electric generation facility with a capacity of at least 80 megawatts; and (2) the retirement, sale, or transfer: (A) was not set forth in; or (B) is to take place on a date earlier than the date specified in; the public utility's short term action plan in the public utility's most recently filed integrated resource plan (IRP). Provides that upon receiving such notice from a public utility, the IURC shall consider and may investigate the public utility's intention or decision to retire, sell, or transfer the electric generation facility. Provides that in considering the public utility's intention or decision, the commission shall examine the impact the retirement, sale, or transfer would have on the public utility's ability to meet: (1) the public utility's planning reserve margin requirements or other federal reliability requirements; and (2) the reliability adequacy metrics set forth in Indiana law. Provides that if the retirement, sale, or transfer was not set forth in, or is to take place earlier than specified in, the public utility's short term action plan in the public utility's most recently filed IRP, the IURC shall not permit the public utility's depreciation rates to be amended to reflect the accelerated date for the retirement, sale, or transfer of the electric generation asset unless the IURC finds that such an adjustment is necessary to ensure the ability of the public utility to provide reliable service to its customers, and that the unamended depreciation rates would cause an unjust and unreasonable impact on the public utility and its ratepayers. Authorizes the IURC to adopt a general administrative order to implement these provisions. Provides that these provisions: (1) do not apply to: (A) the retirement, sale, or transfer of a public utility's electric generation facility if the retirement, sale, or transfer is necessary for the public utility to comply with a federal consent decree; or (B) an electric generation facility that generates electricity for sale exclusively to the wholesale market; and (2) expire July 1, 2026.

Statutes affected:
Senate Bill (H): 8-1-8.4-2, 8-1-8.4-4, 8-1-8.4-6, 8-1-8.4-7