UTILITIES-LEAST COST PLANNING

Amends the Public Utilities Act. Provides that an audit or investigation may examine the reasonableness, prudence, or efficiency of any aspect of the utility's operations, costs, management, decisions, or functions that may affect the adequacy, safety, efficiency, or reliability of utility service or the reasonableness or prudence of the costs underlying rates or charges including power procurement costs for utility service. Provides that every 3 years each electric utility that provides electric services shall file with the Illinois Commerce Commission an energy plan for its service territory consistent with certain planning objectives and requirements. Provides that the cost of new electric utility generating plants and significant additions to electric utility generating plants shall not be included in the rate base of any utility unless such cost is reasonable and prudently incurred. Provides that the Commission shall authorize a decrease of rates and charges based upon changes in the cost of purchased power if it determines that a utility's power procurement costs were not the lowest cost possible. Effective immediately.