Amendment #95 to H5151

GSEP Cost Containment

Representatives Jones of North Reading, Ferguson of Holden, Frost of Auburn, Muradian of Grafton, Vieira of Falmouth and Smola of Warren move to amend the bill by adding the following section:-

SECTION X. Subsection 145 of Section 2 of Chapter 149 of the Acts of 2014 is hereby amended by striking paragraph (f) and inserting in place thereof the following paragraph:-

(f) On or before May 1 of each year, a gas company shall file final project documentation for projects completed in the prior year to demonstrate substantial compliance with the plan approved pursuant to subsection (e) and that project costs were reasonably and prudently incurred. The department shall investigate project costs within 6 months of submission and shall approve and reconcile the authorized rate factor, if necessary, upon a determination that the costs were reasonable and prudent.  Annual changes in the revenue requirement eligible for recovery shall not exceed 1.5 per cent of the gas company’s most recent calendar year total firm revenues, including gas revenues attributable to sales and transportation customers.

Additional co-sponsor(s) added to Amendment #95 to H5151

GSEP Cost Containment