(1) A participating utility contracting with the authority for the electricity, service or product provided by a facility may establish one (1) or more rate stabilization charges, cost recovery charges or power cost adjustment charges as it deems necessary to provide for the payment of all amounts owed by the participating utility to the authority with respect to the facility and otherwise enable the participating utility to stabilize its rates, to protect its consumers from volatile market prices and to insure against market and other risks. Such rate stabilization charges, cost recovery charges or power cost adjustment charges may be established by the participating utility as a separate component of its existing rates and charges or as a new charge.
(2)  A participating utility that is subject to rate regulation by the commission shall submit each of its proposed rate stabilization charges, cost recovery charges or power cost adjustment charges to the commission for approval.

Terms Used In Idaho Code 67-8912

  • Authority: means the Idaho energy resources authority created pursuant to section 67-8904, Idaho Code. See Idaho Code 67-8903
  • Commission: means the Idaho public utilities commission created pursuant to section 61-201, Idaho Code. See Idaho Code 67-8903
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Facility: means any facility necessary, used or useful in connection with the generation, transmission or distribution of electric power and energy and any clean energy generation project, in each case including but not limited to all real and personal property, fuel supplies and transportation facilities, pollution control facilities, battery and other energy storage facilities, and all equipment and improvements necessary or desirable in connection with a facility. See Idaho Code 67-8903
  • Participating utility: means , with respect to any facilities undertaken by the authority pursuant to this chapter, any public or private corporation, electric cooperative or other cooperative corporation or association, municipal corporation, political subdivision of this state or another state, state or federal agency, joint operating entity or other entity that:
Idaho Code 67-8903
  • Revenues: means all receipts, purchase payments, loan repayments, lease payments, rents, fees and charges, and all other income or receipts derived by the authority from a participating utility. See Idaho Code 67-8903
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
    • (3)  Each other participating utility that serves electric consumers in the state but which is not subject to rate regulation by the commission, may establish a rate stabilization charge, cost recovery charge or power cost adjustment charge only after it has provided adequate notice of and a public meeting or hearing on such charge to the members or consumers served by it. A notice shall be deemed to be adequate if:
    (a)  It is given at least fifteen (15) days prior to the public meeting or hearing in the manner usually employed by the participating utility to give notice of its hearings or meetings, by mail, publication or otherwise; and
    (b)  It provides a brief description of the proposed rate stabilization, cost recovery or power cost adjustment charges and a summary of the purposes for which it is being established.
    After the meeting or hearing has been held, the participating utility may proceed to establish and fix the rate stabilization, cost recovery or power cost adjustment charge.
    (4)  Each participating utility may agree in its contractual arrangements with the authority as to the use and disposition of all or any part of the revenues from any rate stabilization, cost recovery or power cost adjustment charges established by the participating utility. Each participating utility may pledge, and may create and grant a security interest in, all or a portion of such revenues to secure its payment obligations to the authority in respect of any facility. Any such agreement or pledge by a participating utility that is a municipal corporation of the state shall not be deemed to create an indebtedness or liability of such municipal corporation or a loan or donation of its credit within the meaning of any constitutional or statutory provision.