House Amendment 12
H 5118 - Session 125 (2023-2024)
Electrical Utilities, Electricity Regulation, and Economic Development
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Rep. Wetmore proposes the following amendment (LC-5118.HA0025H):

Amend the bill, as and if amended, by adding an appropriately numbered SECTION to read:

SECTION X. Section 58-27-865(G) of the S.C. Code is amended to read:

 (G) The commission is authorized to promulgate, in accordance with the provisions of this section, all regulations necessary to allow the recovery by electrical utilities of all their prudently incurred fuel costs as precisely and promptly as possible, in a manner that tends to assure public confidence and minimize abrupt changes in charges to consumers.The commission shall, within the fuel cost recovery proceedings conducted pursuant to subsection (B), establish a fuel cost recovery mechanism that allows each electrical utility to pass through to customers ninety-eight percent of its under-recovered or over-recovered fuel costs, in order to:
  (1) fairly share the risk of fuel cost changes between the electrical utility and its customers;
  (2) provide the electrical utility with sufficient incentive to reasonably manage or lower its fuel costs and encourage greater use of renewable energy; and
  (3) provide the electrical utility with sufficient incentives to mitigate the risk of sudden or frequent fuel cost changes that cannot otherwise reasonably be mitigated through commercially available means, such as through fuel hedging contracts.