Currently, public utilities may provide charging ports or fueling stations for motor vehicles as unregulated services. The bill authorizes public utilities to provide these services as regulated or unregulated services and allows cost recovery.
The bill requires a public utility to apply to the public utilities commission (commission) to build facilities to support electric vehicles. Standards are set for approval. When a facility is built, the rates and charges for the services:
- May allow a return on any investment made by a public utility at the utility's most recent rate of return on equity approved by the commission;
- May allow for rate recovery mechanisms that allow earlier recovery of costs; and
- May allow for performance-based incentive returns or similar investment incentives.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)