Modifies provisions relating to construction costs for certain new electric generation facilities
Impact
The legislation modifies section 393.135 of the Missouri Revised Statutes, prohibiting electrical corporations from charging customers for costs associated with construction work in progress for facilities that are not yet operational. It sets forth criteria for what constitutes a clean baseload generating plant, including requirements for capacity and intended service delivery to retail customers. Furthermore, it specifies that construction costs can be included in ratemaking proceedings, potentially leading to a more favorable financial environment for the development of new electric generation facilities.
Summary
Senate Bill 969, introduced by Senator Burlison, proposes significant changes to the regulation of construction costs for certain new electric generation facilities in Missouri. The bill aims to repeal existing laws and instate new definitions and provisions under the 'Missouri Nuclear Clean Power Act'. This act is focused on facilitating the construction of clean baseload electric generating plants, particularly those utilizing renewable sources and nuclear energy, thereby promoting environmentally sustainable practices within the energy sector.
Contention
While SB 969 is geared towards reducing hurdles for the development of clean energy projects, it stipulates that existing generating facilities in operation prior to a certain date would not be subject to these changes. This specificity has raised discussions about the implications for older facilities and the competitive landscape for new energy projects. Stakeholders may express varying opinions on the effectiveness of this legislation, particularly regarding its potential impact on energy prices, environmental goals, and the balance between existing and new energy providers.