Section 8-1-8.5-2.1 - Retirement, sale, or transfer of electric generation facility; notice; commission consideration and investigation; recovery of accelerated depreciation(a) This section does not apply to the retirement, sale, or transfer of: (1) a public utility's electric generation facility if the retirement, sale, or transfer is necessary in order for the public utility to comply with a federal consent decree; or(2) an electric generation facility that generates electricity for sale exclusively to the wholesale market.(b) A public utility shall notify the commission if:(1) the public utility intends or decides to retire, sell, or transfer an electric generation facility with a capacity of at least eighty (80) megawatts; and(2) the retirement, sale, or transfer: (A) was not set forth in; or(B) is to take place on a date earlier than the date specified in; the public utility's short term action plan in the public utility's most recently filed integrated resource plan.
(c) Upon receiving notice from a public utility under subsection (b), the commission shall consider and may investigate, under IC 8-1-2-58 through IC 8-1-2-60, the public utility's intention or decision to retire, sell, or transfer the electric generation facility. In considering the public utility's intention or decision under this subsection, the commission shall examine the impact the retirement, sale, or transfer would have on the public utility's ability to meet: (1) the public utility's planning reserve margin requirements or other federal reliability requirements that the public utility is obligated to meet, as described in section 13(i)(4) of this chapter; and(2) the reliability adequacy metrics set forth in section 13(e) of this chapter.(d) Before July 1, 2026, if: (1) a public utility intends or decides to retire, sell, or transfer an electric generation facility with a capacity of at least eighty (80) megawatts; and(2) the retirement, sale, or transfer: (A) was not set forth in; or(B) is to take place on a date earlier than the date specified in; the public utility's short term action plan in the public utility's most recently filed integrated resource plan;
the commission shall not permit the public utility's depreciation rates, as established under IC 8-1-2-19, to be amended to reflect the accelerated date for the retirement, sale, or transfer of the electric generation asset unless the commission finds that such an adjustment is necessary to ensure the ability of the public utility to provide reliable service to its customers, and that the unamended depreciation rates would cause an unjust and unreasonable impact on the public utility and its ratepayers.
(e) The commission may issue a general administrative order to implement this section.(f) This section expires July 1, 2026.Added by P.L. 2-2023,SEC. 6, eff. 3/22/2023.