(1) Except as otherwise provided in subsection (2) of this section, if the commission issues a financing order to an electric utility, the commission shall not, in exercising its powers and carrying out its duties pursuant to this article 41:
Consider the CO-EI bonds issued pursuant to the financing order to be debt of theelectric utility other than for income tax purposes;
Consider the CO-EI charges paid under the financing order to be revenue of theelectric utility;
Consider the CO-EI costs or financing costs specified in the financing order to be theregulated costs or assets of the electric utility; or
Determine any prudent action taken by an electric utility that is consistent with thefinancing order to be unjust or unreasonable.
(2) Nothing in subsection (1) of this section:
Prevents or precludes the commission from investigating the compliance of an electric utility with the terms and conditions of a financing order and requiring compliance with the financing order; or
Prevents or precludes the commission from imposing regulatory sanctions against aregulated electric utility for failure to comply with the terms and conditions of a financing order or the requirements of this article 41.
The commission may not refuse to allow the recovery of any costs associated withthe retirement of electric generating facilities by an electric utility solely because the electric utility has elected to recover those costs through traditional rate-making methods or to finance those activities through a financing mechanism other than CO-EI bonds, whether or not a financing order with respect to such costs has been applied for by the utility or issued by the commission.
The commission may adopt rules to implement this article 41.
Source: L. 2019: Entire article added, (SB 19-236), ch. 359, p. 3325, § 26, effective May 30.