SECTION 165:35-38-4. Capital Expenditures to Meet Environmental Requirements

(a)   A utility may file an application pursuant to 17 O.S. Section 286(B), as amended, and this subchapter seeking Commission authorization of the utility's plan to make capital expenditures for equipment or facilities necessary to comply with the environmental requirements applicable to generation facilities as set forth in 17 O.S. Section 286(B).

(b)   If approved by the Commission after notice and hearing, the equipment or facilities specified in the approved utility plan shall be conclusively presumed used and useful.

(c)   The utility may elect periodically to adjust its rates to recover the costs of such expenditures provided that the utility shall file a request for a review of its rates pursuant to Section 152 of Title 17 of the Oklahoma Statutes.

(d)   Periodic rate adjustments as contemplated above shall not prevent a utility from seeking cost recovery of capital expenditures as otherwise may be authorized by the Commission. However, the reasonableness of the costs to be recovered by the utility shall be subject to Commission review and approval.

[Source: Added at 23 Ok Reg 699, eff 2-17-06 (emergency); Added at 23 Ok Reg 1666, eff 7-1-06; Amended at 27 Ok Reg 2098, eff 7-11-10]