Sec. 7. (a) The commission shall grant a new electric transmission owner authority to operate as a public utility in Indiana if the commission makes the following findings:
(1) The new electric transmission owner has the financial, managerial, and technical capability to construct, own, operate, and maintain an electric transmission facility.
(2) The new electric transmission owner has the ability and intent to comply with all statutes, rules, and regulations enforced by the commission.
(3) The new electric transmission owner has the intent to construct, own, operate, and maintain an electric transmission facility that is under consideration by an applicable regional transmission organization.
(4) The new electric transmission owner has provided written notice of its request for authority under this section to each incumbent electric transmission owner that may connect its existing electric transmission facility to the new electric transmission facility of the new electric transmission owner.
(b) In making findings under subsection (a), the commission may consider the creditworthiness of the new electric transmission owner, including:
(1) the new electric transmission owner's investment grade rating;
(2) guarantees of a parent company of the new electric transmission owner that has an investment grade rating;
(3) a bank reference letter or bonding commitment on behalf of the new electric transmission owner;
(4) the authority of the new electric transmission owner to directly set rates or impose taxes; and
(5) the capability of the new electric transmission owner to meet its financial obligations if it abandons the new electric transmission facility after its construction.
As added by P.L.174-2013, SEC.1.
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