Terms Used In South Carolina Code 58-33-250

• application: means an application for a base load review order under the terms of this article. See South Carolina Code 58-33-220
• Base load review order: means an order issued by the commission pursuant to § 58-33-270 establishing that if a plant is constructed in accordance with an approved construction schedule, approved capital costs estimates, and approved projections of in-service expenses, as defined herein, the plant is considered to be used and useful for utility purposes such that its capital costs are prudent utility costs and are properly included in rates. See South Carolina Code 58-33-220
• In-service expenses: means reasonably projected expenses recognized under generally accepted principles of regulatory and financial accounting as a result of a plant commencing commercial operation, including:
  
  (a) expenses associated with operating and maintaining a plant, as well as taxes and governmental charges applicable to the plant including taxes other than income taxes;
  
  (b) depreciation and amortization expenses related to the plant;
  
  (c) revenue requirements related to the utility's cost of capital applied to the investment in supplies, inventories, and working capital associated with the plant; and
  
  (d) other costs determined by the commission to be appropriate for ratemaking purposes. See South Carolina Code 58-33-220
• plant: means a new coal or nuclear fueled electrical generating unit or units or facility that is designed to be operated at a capacity factor exceeding seventy percent annually, has a gross initial generation capacity of three hundred fifty megawatts or more, and is intended in whole or in part to serve retail customers of a utility in South Carolina, and for a coal plant, includes Best Available Control Technology, as defined by the United States Environmental Protection Agency, for the control of air emissions. See South Carolina Code 58-33-220
• Return on equity: means the return on common equity established in the base load review order for a plant. See South Carolina Code 58-33-220
• Revised rates: means a revised schedule of electric rates and charges reflecting a change to the utility's then current nonfuel rates and charges to add incremental revenue requirements related to a base load plant as authorized in this article. See South Carolina Code 58-33-220
• Utility: means a person owning or operating equipment or facilities for generating, transmitting, or delivering electricity to South Carolina retail customers for compensation but it shall not include electric cooperatives, municipalities, the South Carolina Public Service Authority, or a person furnishing electricity only to himself, itself, its residents, employees, or tenants when the electricity is not resold or used by others. See South Carolina Code 58-33-220