Public utilities: electric utilities; long-term industrial load rates; prohibit from being subject to securitization charges. Amends sec. 10gg of 1939 PA 3 (MCL 460.10gg).

This bill amends state law to allow electric utilities to offer special long-term pricing contracts to large industrial customers who meet specific demand and capacity requirements. To qualify, an industrial customer must have an annual average electric demand of at least 200 megawatts and sign a contract lasting at least 15 years or the remaining life of the power source. The legislation requires the Public Service Commission to approve these rates only if the utility demonstrates that the arrangement provides a net benefit to all customers, such as reducing system costs or avoiding the need for new power generation. Additionally, the bill clarifies that these long-term rates are not subject to securitization charges, which are fees typically applied to certain utility cost recovery mechanisms.