HB 2555, Hse 2nd Rdg, Amnd #1

(1) On page 1, lines 16 and 17, strike "technology and cyber security measures," and substitute "technology, cybersecurity measures, physical security measures,".

(2) On page 2, line 25, strike "cyber security" and substitute "cybersecurity".

(3) Strike page 3, line 12 through page 4, line 1, and substitute the following:

(e) The commission shall issue an order to approve, modify, or deny a plan filed under Subsection (b) and any associated rider described by Subsection (i) not later than the 180th day after the plan is filed with the commission. The commission may not approve a plan if the commission determines that approving the plan is not in the public interest.

(f) For a plan approved by the commission, with or without modification, an electric utility may request a good cause exception on implementing all or some of the measures or incurring all or some of the estimated costs in the plan if operational needs, business needs, financial conditions, or supply chain or labor conditions dictate the exception. The commission's denial of a plan is not considered to be a finding of the prudence or imprudence of a measure or cost in the plan for the purposes of Chapter 36 or this chapter.

(4) On page 4, line 7, between "approval" and "of", insert "date".

(5) On page 4, lines 13-14, strike "incurred," and substitute "incurred and otherwise reasonable,".

(6) Strike page 4, line 16 through page 4, line 25, and substitute the following:

(i) Notwithstanding any other law, an electric utility may file with a plan an application for a rider to recover all or a portion of the estimated costs relating to the electric utility's implementation of the plan, other than transmission-related costs. If the commission approves the plan, the commission shall determine the appropriate terms of the rider in the approval order. A rider approved under this subsection must allow the electric utility to begin recovering the levelized cost of implementing the approved plan, other than transmission-related costs, at the time the plan is first implemented. The commission shall adopt a procedure for reconciliation of an electric utility's distribution-related expenses to implement an approved plan.

(7) On page 4, line 27 through page 5, line 1, strike "any rider approved in connection with the previously approved plan" and substitute "the rider authorized under Subsection (i)".

(8) On page 5, line 5, between "the" and "costs", insert "distribution-related".

(9) On page 5, line 7, between "including" and "carrying", insert "depreciation expense and".

(10) On page 5, lines 10 and 11, strike "Sections 35.004, 36.209," and substitute "Sections 36.209".

(11) On page 5, lines 13 and 14, strike "may not include the same costs otherwise recovered through the electric utility's base rates" and substitute "may include only incremental costs that are not already being recovered through the electric utility's base rates or any other rate rider".