(a) A public utility, including a public utility that is exempt from other regulation under AS 42.05.711 or another provision of this chapter, that is interconnected with an interconnected electric energy transmission network served by an electric reliability organization certificated by the commission may not construct a large energy facility unless the commission determines that the facility
(1) is necessary to the interconnected electric energy transmission network with which it would be interconnected;
(2) complies with reliability standards; and
(3) would, in a cost-effective manner, meet the needs of a load-serving entity that is substantially served by the facility.
(b) Unless the commission finds otherwise by clear and convincing evidence, a large energy facility that was included in the most recent integrated resource plan approved under AS 42.05.780 is considered to satisfy the requirements of (a) of this section.
(c) The commission may not require preapproval for a
(1) project for refurbishment or capitalized maintenance;
(2) hydropower project licensed by the Federal Energy Regulatory Commission before September 30, 2016.
(d) The commission shall adopt regulations
(1) governing project preapproval;
(2) defining refurbishment and capitalized maintenance;
(3) maintaining municipal jurisdiction over local planning decisions; and
(4) addressing projects undertaken before integrated resource plan approval for an interconnected electric energy transmission network.
(e) In this section, “large energy facility” means
(1) an electric power generating plant or combination of plants at a single site with a combined capacity of 15,000 kilowatts or more with transmission lines that directly interconnect the plant with the transmission system;
(2) a high-voltage, above-ground transmission line that
(A) has a capacity of 69 kilovolts or more; and
(B) is longer than 10 miles;
(3) a high-voltage submarine or underground cable that
(A) has a capacity of 69 kilovolts or more; and
(B) is longer than three miles;
(4) an energy storage device or combination of devices at a single site with a combined capacity of 15,000 kilowatts and one hour or more of energy storage that directly connects with the interconnected bulk-electric system; and
(5) a reactive compensation device or combination of devices at a single site with a combined reactive capability of 15,000 kilovars or more with a step-up device to regulate interconnected bulk-electric system voltage.