Notwithstanding anything in this chapter to the contrary, an electric utility that is subject to rate regulation by the commission and plans plant additions that are expected to have a material impact on rates may make application to the commission for a phase in rate plan to provide for the phase in of expected rate increases resulting from plant additions. The plan may provide for any of the following:

1. (1) Rate increases to be incrementally phased in prior to the commencement of commercial operation of the plant additions;
2. (2) To the extent rate increases for plant additions are allowed prior to commercial operation, restrictions on the capitalization of allowance for funds used during construction for the plant additions;
3. (3) Restrictions on other rate increases; and
4. (4) Any other conditions which benefit the public interest and may be imposed by the commission consistent with the findings in § 49-34A-74.

Source: SL 1992, ch 331 , § 1; SL 2012, ch 230 , § 2; SL 2015, ch 233 , § 1.