(a) An electric distribution company may recover its costs and investments that have been prudently incurred as well as its revenues lost resulting from the provisions of sections 16-1, 16-19ff, 16-50k, 16-50x, 16-243h to 16-243q, inclusive, 16-244c, 16-244u, 16-244x, 16-245d, 16-245m, 16-245n, 16-245z, 16-262i, 16a-40l and 16a-40m and section 21 of public act 05-1 of the June special session*. The Public Utilities Regulatory Authority shall, after a hearing held pursuant to the provisions of chapter 54, determine the appropriate mechanism to obtain such recovery in a timely manner which mechanism may be one or more of the following: (1) Approval of rates as provided in sections 16-19 and 16-19e; (2) the energy adjustment clause as provided in section 16-19b; or (3) the federally mandated congestion charges, as defined in section 16-1.
(b) Electric distribution companies shall be authorized to earn an incentive, as provided in section 16-19kk, for costs prudently incurred by such companies pursuant to this section.
(June Sp. Sess. P.A. 05-1, S. 15; P.A. 11-80, S. 1; P.A. 13-5, S. 35; 13-298, S. 66; P.A. 14-94, S. 31; 14-134, S. 121; P.A. 16-116, S. 1.)
*Note: Section 21 of public act 05-1 of the June special session is special in nature and therefore has not been codified but remains in full force and effect according to its terms.
History: June Sp. Sess. P.A. 05-1 effective July 21, 2005; pursuant to P.A. 11-80, “Department of Public Utility Control” was changed editorially by the Revisors to “Public Utilities Regulatory Authority” in Subsec. (a), effective July 1, 2011; P.A. 13-5 amended Subsec. (a) to make technical changes, effective May 8, 2013; P.A. 13-298 amended Subsec. (a) to add provision re recovery of revenues lost and make a technical change, to replace reference to Sec. 16-243i with reference to Sec. 16-243h, to add reference to Sec. 16-244u and to delete provision re recovery of earnings by electric distribution company earning return on equity below return authorized by the authority for 6 consecutive months, effective July 8, 2013; P.A. 14-94 amended Subsec. (a) by adding reference to Secs. 16a-40l and 16a-40m re revenues lost, effective June 6, 2014; P.A. 14-134 amended Subsec. (a) by deleting reference to Sec. 16-244e, effective June 6, 2014; P.A. 16-116 amended Subsec. (a) by adding reference to Sec. 16-244x, effective May 31, 2016.
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