§ 62-110.6. Rate recovery for construction costs of out-of-state electric generating facilities.
§ 62‑110.6. Raterecovery for construction costs of out‑of‑state electric generatingfacilities.
(a) The Commissionshall, upon petition of a public utility, determine the need for and, if needis established, approve an estimate of the construction costs and constructionschedule for an electric generating facility in another state that is intendedto serve retail customers in this State.
(b) The petition may befiled at any time after an application for a certificate or license for theconstruction of the facility has been filed in the state in which the facilitywill be sited. The petition shall contain a showing of need for the facility,an estimate of the construction costs, and the proposed construction schedulefor the facility.
(c) The Commission shallconduct a public hearing to consider and determine the need for the facilityand the reasonableness of the construction cost estimate and proposedconstruction schedule. If the Commission finds that the construction will beneeded to assure the provision of adequate public utility service within NorthCarolina, the Commission shall approve a construction cost estimate and aconstruction schedule for the facility. In making its determinations under thissection, the Commission may consider whether the state in which the facilitywill be sited has issued a certificate or license for construction of thefacility and approved a construction cost estimate and construction schedulefor the facility. The Commission shall issue its order not later than 180 days afterthe public utility files its petition.
(d) G.S. 62‑110.1(f)shall apply to the construction cost estimate determined by the Commission tobe appropriate, and the actual costs the public utility incurs in constructingthe facility shall be recoverable through rates in a general rate case pursuantto G.S. 62‑133 as provided in G.S. 62‑110.1(f1).
(e) If the constructionof a facility is cancelled, the public utility shall recover through rates in ageneral rate case conducted pursuant to G.S. 62‑133 the costs ofconstruction that were actually incurred prior to the cancellation and arefound by the Commission to be reasonable and prudent, as provided insubsections (f2) and (f3) of G.S. 62‑110.1. (2007‑397, s. 7.)