Louisiana Revised Statutes 45:1240 – A. The provisions of R.S. 45:1237 through 1239 shall be additional and alternative authority and shall provide the full method together with the other provisions of this Part for the
Terms Used In Louisiana Revised Statutes 45:1240
- Commission: means the Public Service Commission or, solely with respect to an electric utility furnishing electric service within the city of New Orleans, the council of the city of New Orleans. See Louisiana Revised Statutes 45:1227
- 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.
- Financing order: means an order of the commission, if granted by the commission in its sole discretion, which allows for:
(a) The issuance of storm recovery bonds. See Louisiana Revised Statutes 45:1227
- Storm: means a named tropical storm or hurricane, ice or snow storm, flood, or other significant weather or natural disaster that occurred during calendar year 2005 or that occurs thereafter. See Louisiana Revised Statutes 45:1227
- Storm recovery costs: means , if requested by the electric utility, and as may be approved by the commission, costs incurred or to be incurred by an electric utility in undertaking a storm recovery activity. See Louisiana Revised Statutes 45:1227
A. The provisions of La. Rev. Stat. 45:1237 through 1239 shall be additional and alternative authority and shall provide the full method together with the other provisions of this Part for the exercise of the powers herein granted and accomplishment of the things authorized hereby and shall be regarded as supplemental and additional to powers conferred by other laws. All rights and powers granted by this Part to the corporation and the issuers of storm recovery bonds shall be cumulative with those derived from other sources and shall not, except as expressly stated herein, be construed in limitation thereof.
B. A utility may finance storm recovery costs pursuant to La. Rev. Stat. 45:1237 through 1239 that were incurred prior to the effective date of those Sections. To the extent that a utility has made application for a determination of eligible storm recovery costs prior to the effective date of La. Rev. Stat. 45:1237 through 1239, that application may provide the basis in part for the commission‘s financing order relying in part upon those Sections.
Acts 2021, No. 293, §2, eff. June 14, 2021.