§ 9054. Application for determination and approval
Oklahoma Statutes AnnotatedTitle 74. State GovernmentEffective: April 23, 2021
Effective: April 23, 2021
74 Okl.St.Ann. § 9054
§ 9054. Application for determination and approval
A. In the event an unregulated utility opts for financing pursuant to this act, the unregulated utility shall submit to the Oklahoma Development Finance Authority an application for determination and approval of qualified costs as defined in this act. The Authority, with assistance from the Public Utility Division of the Oklahoma Corporation Commission pursuant to subsection C of this section, shall determine the qualified costs an unregulated utility actually and lawfully incurred and that were directly related to the extreme weather experienced in February 2021.
After the Authority receives an application pursuant to subsection A of this section, a copy of the application shall be transmitted to the Commission for administrative review pursuant to subsection C of this section.
C. 1. The Commission is hereby authorized, for the limited purposes of this act, to receive an application by an unregulated utility for administrative review of extreme purchase costs and extraordinary costs to be recovered through the issuance of loans by the Authority. In determining the amount of costs to be recovered, the Commission shall audit these amounts requested to ensure they meet the definition of extreme purchase costs and extraordinary costs, were actually incurred, were paid or are payable and would be recovered from customers in the normal course of business.
D. After receiving the findings of the administrative review conducted by the Corporation Commission pursuant to subsection C of this section, the Authority shall issue a written approval or disapproval of the application to the Authority quantifying the approved or disapproved qualified costs. A copy of the written approval or disapproval of the application shall be provided to the Governor, the President Pro Tempore of the Senate and the Speaker of the House of Representatives on the same date the approval or disapproval is issued by the Authority.
E. In the event the Authority rejects an application for failure to provide sufficient information to make a determination of qualified costs, it shall provide the reasons for rejection to the unregulated utility and the unregulated utility may then modify and resubmit the application to the Authority with the necessary documents and information. The Authority shall then transmit a copy of the resubmitted application to the Commission for administrative review pursuant to subsection C of this section.
Credits
Laws 2021, c. 203, § 5, emerg. eff. April 23, 2021.
74 Okl. St. Ann. § 9054, OK ST T. 74 § 9054
Current with emergency effective legislation through Chapter 295 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
End of Document |