Public utilities; rate review by the State Corporation Commission.

Public utilities; rate review by the State Corporation Commission. Provides that in any annual rate review of a publicutility by the State Corporation Commission, the Commission may findthat the rates of a public utility, including an investor-owned incumbentelectric utility, are not just and reasonable and may take correctiveaction. Under the bill, the Commission may conduct an investigationinto the rates of any public utility on its own initiative or uponapplication by an affected party. Additionally, when capped ratesof service for investor-owned incumbent electric utilities expireor terminate, the bill permits the Commission to find that the ratesare not just and reasonable and take corrective action.