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Summary: HB 994 makes two clerical adjustments to the Utilities Code pertaining to a fund power companies can use to aid nuclear generating unit decommission. First, this legislation expands the definition of a nuclear generating unit to include all units, not just ones built between 2007 and 2015. Second, HB 994 extends the applicability of the code to units being built between 2013 and 2033, not just units built by 2015.
Analysis: The current law sets up a system to allow power companies to establish a fund in order to assure ratepayers that they (the ratepayers) will not be forced to cover the burden if the power company needs to decommission a unit. Power companies are not required to use this system to establish a fund. HB 994 as it amends the regulations for which units would be allowed to benefit from this fund. By allowing more units to fall under the new criteria, this bill allows power companies to better protect their ratepayers. We encourage legislators to vote in favor of HB 994.