An electric reliability organization shall

1. (1) develop reliability standards that provide for an adequate level of reliability of an interconnected electric energy transmission network;
2. (2) develop integrated resource plans under AS 42.05.780(a);

3. (3) establish rules to

   1. (A) ensure that the directors of the electric reliability organization and the electric reliability organization act independently from users, owners, and operators of the interconnected electric energy transmission network;
   2. (B) equitably allocate reasonable dues, fees, and other charges among all load-serving entities connected to the interconnected electric energy transmission network for all activities under AS 42.05.760 — 42.05.790;
   3. (C) provide fair and impartial procedures for the enforcement of reliability standards;
   4. (D) provide for reasonable notice and opportunity for public comment, due process, openness, and balancing of interests in exercising its duties;

4. (4) be governed by a board that

   1. (A) includes as nonvoting members the chair of the commission or the chair's designee and the attorney general or the attorney general's designee; and

   2. (B) is formed as

      1. (i) an independent board;
      2. (ii) a balanced stakeholder board; or
      3. (iii) a combination independent and balanced stakeholder board; and
5. (5) prioritize the reliability, stability, and cost to consumers of the interconnected bulk-electric system served by the electric reliability organization.