Power charge indifference adjustment.

Provides that in acting upon a petition for public convenience and necessity for the construction, purchase, or lease of an electric generation facility, the utility regulatory commission (IURC) shall consider the following: (1) The amount, ownership, current and potential uses, and current and potential assessed value of any land required for the facility. (2) The outstanding costs associated with any of the applicant's existing facilities or infrastructure that will be retired or replaced, in whole or in part, in connection with the facility. Requires the IURC to adopt rules not later than July 1, 2020, to implement a power charge indifference adjustment (PCIA) with respect to a reduced load customer of an electric utility. Defines a "reduced load customer" of an electric utility as a customer with respect to whom the amount of electricity or retail electric service delivered by the electric utility is reduced because of: (1) the customer's use of a cogeneration facility; or (2) the termination of a requirements contract or another contract under which the customer has agreed to purchase a designated amount or percentage of electricity from the electric utility to meet the customer's demand for electricity. Provides that a PCIA is to be based on the reduced load customer's proportionate share of the electric utility's costs outstanding in connection with: (1) existing facilities or infrastructure; and (2) existing power purchase agreements; as of the in service date of the customer's cogeneration facility or the date of termination of the requirements contract or other similar contract. Provides that for each calendar year in which a PCIA is in effect, the PCIA is to be calculated based on the difference between: (1) the electric utility's actual portfolio cost, as determined by the IURC, as of the in service date of the reduced load customer's cogeneration facility or the date of termination of the requirements contract or other similar contract, as applicable; minus (2) the market value of the electric utility's supply side portfolio for the particular calendar year, as determined by the IURC.