Section 704.79878 - Utility required to mitigate costs of plan implementation; utility that requests recovery of such costs required to propose rate method or mechanism to mitigate certain increase in total revenue requirement in certain general rate proceedings; acceptance or rejection of rate method or mechanism by Commission; amount of recovery if rate method or mechanism implemented1. In implementing a transmission infrastructure for a clean energy economy plan, an electric utility shall mitigate costs to the extent possible by utilizing available federal tax incentives and federal funding, including, without limitation, direct and indirect grants and loan guarantees.2. If, in any general rate proceeding filed by an electric utility pursuant to NRS 704.110 or 704.7621, the electric utility includes a request for recovery of any amount related to the implementation of a transmission infrastructure for a clean energy economy plan and the recovery of such an amount would result in an increase in the electric utility's total revenue requirement of more than 10 percent, the utility must propose a rate method or mechanism by which such an increase may be mitigated. The Commission may accept or reject such a rate method or mechanism and is not obligated to implement any proposed mitigation plan. If a rate method or mechanism is implemented to mitigate an increase in the electric utility's total revenue requirement pursuant to this section, the electric utility is entitled to recover all of its prudently and reasonably incurred costs and a return on its investment. Nothing in this subsection shall be construed as requiring the Commission to provide a financial incentive to an electric utility.Added to NRS by 2021, 3786Added by 2021, Ch. 552,§22, eff. 6/10/2021.