Sec. 7. (a) As a condition for receiving the certificate required under section 6 of this chapter, an energy utility must file with the commission an application that sets forth the information described in section 6(b) of this chapter, supported with technical information in as much detail as the commission requires. An application under this section must be filed either: (1) before; or (2) within a reasonable time with respect to; any federally mandated compliance date. (b) The commission shall hold a properly noticed public hearing on each application and grant a certificate only if the commission has: (1) made a finding that the public convenience and necessity will be served by the compliance project; (2) approved the incurred and projected federally mandated costs associated with the compliance project; and (3) made a finding on each of the factors set forth in section 6(b) of this chapter. (c) If the commission approves under subsection (b) a compliance project and the federally mandated costs associated with the compliance project, the following apply: (1) Eighty percent (80%) of the approved federally mandated costs shall be recovered by the energy utility through a periodic retail rate adjustment mechanism that allows the timely recovery of the approved federally mandated costs. The commission shall adjust the energy utility's authorized net operating income to reflect any approved earnings for purposes of IC 8-1-2-42 (d)(3) and IC 8-1-2-42 (g)(3), with recovery commencing no earlier than: (A) the date of a final agency action regarding the federally mandated requirement; or (B) in the absence of a final agency action, the date on which the federally mandated requirement becomes effective. (2) Twenty percent (20%) of the approved federally mandated costs, including depreciation, allowance for funds used during construction, and post in service carrying costs, based on the overall cost of capital most recently approved by the commission, shall be deferred and recovered by the energy utility as part of the next general rate case filed by the energy utility with the commission. (3) Actual costs that exceed the projected federally mandated costs of the approved compliance project by more than twenty-five percent (25%) shall require specific justification by the energy utility and specific approval by the commission before being authorized in the next general rate case filed by the energy utility with the commission. IC 8-1-8.5 Chapter 8.5. Electric Utility Resource Planning and Certification 8-1-8.5-1 Definitions 8-1-8.5-2 Necessity for certification 8-1-8.5-2.1 Retirement, sale, or transfer of electric generation facility; notice; commission consideration and investigation; recovery of accelerated depreciation 8-1-8.5-3 Analysis of needs; integrated resource plans; hearings; report 8-1-8.5-3.1 Expired 8-1-8.5-3.2 Integrated resources plans submitted after June 30, 2021, and before January 1, 2025; commission to evaluate impact of federal phaseout mandates on estimated useful life of existing and proposed generating facilities 8-1-8.5-3.3 Integrated resource plans submitted after June 30, 2023; director's evaluation of preferred resource portfolio for attributes of electric utility service specified in state policy 8-1-8.5-3.4 Inclusion in integrated resource plan of information regarding advanced transmission technologies and utility's transmission and distribution systems 8-1-8.5-3.5 Forecasting group 8-1-8.5-4 Considerations for commission's review of petition; impact of federal phaseout mandates; provision of electric utility service with attributes specified in state policy 8-1-8.5-5 Estimate of costs; hearing on application; granting of certificate; findings; utility specific proposals; construction of large generating facilities; competitive bidding 8-1-8.5-5.5 Review of continuing need for facility under construction; modification or revocation of certificate; consideration of state policy 8-1-8.5-6 Review of construction; force and effect of certificate approved under review; election to defer review 8-1-8.5-6.5 Rates; recovery of costs 8-1-8.5-7 Exemptions from certification requirements; report to commission of proposed construction required 8-1-8.5-8 Construction of chapter; valuation of property 8-1-8.5-9 Energy efficiency programs; opt out by industrial customers; prohibition against extending or renewing energy efficiency programs established under DSM order 8-1-8.5-10 Energy efficiency goals and programs; evaluation, measurement, and verification; recovery of program costs; opt out by industrial customers 8-1-8.5-11 Expired 8-1-8.5-12 Coal transition workers; priority for awarding high value workforce ready credit-bearing grants 8-1-8.5-12.1 Commission rules concerning granting of certificates for small modular reactors; public utility recovery of small modular reactor project costs 8-1-8.5-13 Public utilities' annual resource planning reports; three-year forecast; contents; plans to retire or refuel generation resource; replacement capacity; commission staff reports on planned retirements; commission's review of reports; required investigations; public utility's request for investigation; approval of certificate constitutes approval for required investigation; order to acquire or construct resources or prohibiting retirement or refueling; time frame for order; appeal of order; cost recovery for continued operation; information in commission's annual report 8-1-8.5-14 Commission study of advanced transmission technologies
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