Sec. 16-43d. Sale of existing electric generation plants.
Sec. 16-43d. Sale of existing electric generation plants. If any existing electric
generation plant within the state is offered for sale, the Department of Public Utility
Control shall authorize the electric distribution companies to purchase and operate such
plants if the department, through a contested case proceeding, determines that such
purchase and operation is in the public interest, provided any acquisition plan shall
include provisions for payment of property taxes on the value of the purchased plant
and provisions for employee protections consistent with subdivision (3) of subsection
(b) of section 16-244f. An electric distribution company purchasing such generation
plants shall be entitled to recover the costs of such purchase in an annual retail generation
rate contested case consistent with the principles set forth in sections 16-19, 16-19b and
16-19e, provided the return on equity associated with such purchase and operation shall
be established in said contested case proceeding and updated at least once every four
years. The department shall review and approve the cost recovery provisions in the
proceeding to determine that such purchase and operation are in the public interest.
(P.A. 07-242, S. 83.)
History: P.A. 07-242 effective June 4, 2007.