December 4, 2007, Introduced by Reps. Miller, Angerer, Mayes, Accavitti, Hopgood, Gaffney, LaJoy and Hune and referred to the Committee on Energy and Technology.
A bill to amend 1939 PA 3, entitled
"An act to provide for the regulation and control of public and
certain private utilities and other services affected with a public
interest within this state; to provide for alternative energy
suppliers; to provide for licensing; to include municipally owned
utilities and other providers of energy under certain provisions of
this act; to create a public service commission and to prescribe
and define its powers and duties; to abolish the Michigan public
utilities commission and to confer the powers and duties vested by
law on the public service commission; to provide for the
continuance, transfer, and completion of certain matters and
proceedings; to abolish automatic adjustment clauses; to prohibit
certain rate increases without notice and hearing; to qualify
residential energy conservation programs permitted under state law
for certain federal exemption; to create a fund; to provide for a
restructuring of the manner in which energy is provided in this
state; to encourage the utilization of resource recovery
facilities; to prohibit certain acts and practices of providers of
energy; to allow for the securitization of stranded costs; to
reduce rates; to provide for appeals; to provide appropriations; to
declare the effect and purpose of this act; to prescribe remedies
and penalties; and to repeal acts and parts of acts,"
(MCL 460.1 to 460.10cc) by adding section 6q.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 6q. (1) An electric utility shall obtain the approval of
the commission as provided in this section before completing the
sale of an existing electric generating plant with a capacity of
200 megawatts or more that is used in providing regulated electric
utility service in this state. For the purpose of computing the
200-megawatt threshold under this section, sale includes any series
of transfers of electric generating units that take place within a
12-month period and are associated with a single transaction.
(2) An electric utility shall submit an application to the
commission for approval of a sale under subsection (1). The
application shall include the following information:
(a) A concise summary of the terms and conditions of the
proposed transaction.
(b) Copies of the material transaction documents if available.
(c) A summary of the projected impacts of the transaction on
rates and regulated electric utility service in this state.
(d) Pro forma financial statements that are relevant to the
transaction.
(e) Copies of the parties' public filings with other state or
federal regulatory agencies regarding the same transaction,
including any regulatory orders issued by the agencies regarding
the transaction.
(3) Within 60 days from the date an application is filed under
this section, interested parties may file comments with the
commission on the proposed transaction.
(4) Within 180 days from the date an application is filed
under this section, the commission shall issue an order approving
or rejecting the proposed transaction.
(5) If retail customers of the electric utility submitting an
application are eligible to take retail generation service from an
alternative electric supplier, the commission shall issue an order
approving the proposed transaction.
(6) If retail customers of the electric utility submitting an
application are not eligible to take retail generation service from
an alternative electric supplier, the commission shall issue an
order approving the proposed transaction unless it finds 1 of the
following:
(a) The proposed transaction is likely to have a material
adverse impact on the rates regulated by the commission under
section 6a.
(b) The proposed transaction is likely to have a material
adverse impact on the provision of safe, reliable, and adequate
electric service in this state.
(c) The proposed transaction is likely to significantly impair
an electric utility's ability to raise necessary capital or to
maintain a reasonable capital structure.
(d) The proposed transaction is likely to have a material
adverse impact on competition in this state.
(7) Nonpublic information and materials submitted by an
electric utility under this section clearly designated by that
utility as confidential are exempt from the freedom of information
act, 1976 PA 442, MCL 15.231 to 15.246. The commission shall issue
protective orders as necessary to protect information designated by
that utility as confidential.
Enacting section 1. This amendatory act does not take effect
unless all of the following bills of the 94th Legislature are
enacted into law:
(a) Senate Bill No. _____ or House Bill No. 5524(request
no. 02552'07*).
(b) Senate Bill No. _____ or House Bill No. 5521(request
no. 04883'07*).
(c) Senate Bill No. _____ or House Bill No. 5522(request
no. 04884'07*).
(d) Senate Bill No. _____ or House Bill No. 5523(request
no. 05023'07*).
(e) Senate Bill No. ______ or House Bill No. (request
no. 05570'07).
(f) Senate Bill No. ______ or House Bill No. (request
no. 05919'07).
(g) Senate Bill No. ______ or House Bill No. 5525(request
no. 05920'07).
(h) House Bill No. 5383.
(i) House Bill No. 5384.