Montana Code 69-3-1623. Use of amounts received by electric utility as consideration for its transfer of Montana energy impact assistance property
69-3-1623. Use of amounts received by electric utility as consideration for its transfer of Montana energy impact assistance property. (1) Subject to commission approval as required by subsection (2), an electric utility shall expend or invest amounts the electric utility receives as consideration for its transfer of Montana energy impact assistance property to reduce its Montana energy impact costs and may invest or expand the remaining funds as follows:
Terms Used In Montana Code 69-3-1623
- commission: means the public service commission provided for in 2-15-2602. See Montana Code 69-1-101
- Electric utility: means any electric utility regulated by the commission pursuant to Title 69, chapter 3, including the electric utility's successors or assignees. See Montana Code 69-3-1603
- Montana energy impact assistance property: means :
(a)all rights and interests of an electric utility or successor or assignee of an electric utility under a financing order for the right to impose, bill, collect, and receive Montana energy impact assistance charges as it is authorized to do solely under the financing order and to obtain periodic adjustments to the Montana energy impact assistance charges as provided in the financing order; and
(b)all revenue, collections, claims, rights to payments, payments, money, or proceeds arising from the rights and interests specified in subsection (14)(a), regardless of whether the revenue, collections, claims, rights to payment, payments, money, or proceeds are imposed, billed, received, collected, or maintained together with or commingled with other revenue, collections, rights to payment, payments, money, or proceeds. See Montana Code 69-3-1603
- Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
- Property: means real and personal property. See Montana Code 1-1-205
(a)to build and own generation infrastructure and facilities that are least-cost generation resources, taking into consideration regulatory risk, current and future fuel cost and risk, and fuel delivery infrastructure costs, the addition of which is not inconsistent with the electric utility’s resource procurement or integrated least-cost resource plan;
(b)to build, own, or purchase electricity storage capacity to the extent that the investment is either required by law or rule, is the least-cost, or is needed to increase the amount of least-cost generation resources that the electric utility is able to add to its generation portfolio;
(c)to invest in network modernization to the extent that the modernization is necessary to increase the amount of least-cost generation resources able to be added to the electric utility’s system; and
(d)to replace any damaged or destroyed electric infrastructure or facilities involved in the transmission or delivery of electricity to Montana customers.
(2)In considering any application for approval of the use of Montana energy impact assistance bond proceeds, the commission shall:
(a)use its regular process for consideration of applications; and
(b)fully consider new energy technologies and future environmental regulations.