Electric utility reliability adequacy metrics.

Provides that a public utility (defined in the bill as a utility listed in the utility regulatory commission's (IURC's) rule concerning integrated resource planning) that owns and operates an electric generating facility serving Indiana customers shall operate and maintain the facility using good utility practices and in a manner: (1) reasonably intended to support the provision of reliable and economic electric service to customers; and (2) reasonably consistent with the resource reliability requirements of the Midcontinent Independent System Operator (MISO) or any other appropriate regional transmission organization. Provides that, not later than 30 days after the deadline for submitting an annual planning reserve margin report to MISO, each public utility providing electric service to Indiana customers shall file with the IURC a report that provides the following information for each of the next three resource planning years: (1) The capacity, location, and fuel source for each electric generating facility that is owned and operated by the electric utility, and that will be used to provide electric service to Indiana customers. (2) The amount of generating resource capacity or energy, or both, that the public utility has procured under contract, and that will be used to provide electric service to Indiana customers. (3) The amount of demand response resources available to the public utility under contracts and tariffs. (4) The planning reserve margin requirements and other federal reliability requirements that the public utility is obligated to meet, including a comparison of each reported planning reserve margin requirement with the planning reserve margin requirement for the 2021-2022 planning year. (5) The reliability adequacy metrics (as defined in the bill) for the public utility, as forecasted for the three planning years covered by the report. Provides that in reviewing a public utility's report, the IURC may request technical assistance from MISO or any other appropriate regional transmission organization in making certain determinations concerning the adequacy of the public utility's available capacity resources to support the provision of reliable electric service. Provides that if, after reviewing a public utility's report, the IURC is not satisfied that the public utility can: (1) provide reliable electric service to the public utility's Indiana customers; or (2) meet its planning reserve margin requirement or other federal reliability requirements; during any of the planning years covered by the report, the IURC may conduct an investigation as to the reasons. Provides that if, after such an investigation, the IURC determines that the capacity resources available to the public utility will not be adequate to support the provision of reliable electric service to the public utility's Indiana customers, or to allow the public utility to meet its planning reserve margin requirements or other federal reliability requirements, the IURC shall issue an order directing the public utility to acquire or construct such capacity resources as are reasonable and necessary to enable the public utility to meet these requirements. Provides that not later than 90 days after the date of such an order by the IURC, the public utility shall file for approval with the IURC a plan to comply with the order. Provides that the IURC shall annually submit to the governor and to the interim study committee on energy, utilities, and telecommunications a report that includes the following: (1) The IURC's analysis regarding the ability of public utilities to: (A) provide reliable electric service to Indiana customers; and (B) meet their planning reserve margin requirements or other federal reliability requirements; for the next three resource planning years. (2) A summary of: (A) the projected demand for retail electricity in Indiana over the next calendar year; and (B) the amount and type of capacity resources committed to meeting this demand. Authorizes the IURC to adopt rules to implement these provisions.