Title 61 — PUBLIC UTILITY REGULATION

61-1601. Legislative intent. It is the intent of the legislature in enacting this chapter to authorize the public utilities commission to approve certain cost reduction charges or rates as a method of financing or refinancing costs incurred or to be incurred by electric and gas u…

61-1602. Definitions. For purposes of this chapter, the following terms shall have the following meanings, unless the context clearly requires otherwise: (1) "Approved costs" means the amounts that a public utility or assignee has been authorized to recover by the commission purs…

61-1603. Cost reduction order. (1) A public utility may apply to the commission for a cost reduction order authorizing the recovery of approved costs through the imposition and collection of a cost reduction rate. (2) A public utility may apply to the commission from time to time…

61-1604. Limitation on aggregate amount of cost reduction financing. The amount of approved costs in a cost reduction order, either individually or in the aggregate with previously approved costs included in cost reduction orders that remain outstanding, may not exceed an amount …

61-1605. Cost reduction rate. (1) Each cost reduction order shall specify a procedure for making adjustments to the cost reduction rate that is the subject of the order. (2) Upon application by a public utility the commission may: (a) Authorize the making of adjustments to the co…

61-1606. Cost reduction instruments. (1) Public utilities and assignees may issue and sell cost reduction instruments upon approval by the commission of such action in a cost reduction order. (2) Public utilities and assignees may sell and assign all or portions of their interest…

61-1607. Security interest. (1) To the extent the provisions of this section conflict with chapter 9 as from time to time in effect, including any successor provisions, this section shall apply. (2) A security interest in cost reduction property is valid, is enforceable against t…

61-1608. Transfers in interest. (1) A transfer of cost reduction property by a public utility to an assignee, or by an assignee to another assignee, that the parties have in the governing documentation expressly stated to be a sale or other absolute transfer, in a transaction app…

61-1609. Successors. Any successor to the public utility, whether pursuant to any bankruptcy, reorganization or other insolvency proceeding, or pursuant to any merger, sale or transfer, by operation of law or otherwise, shall perform and satisfy all obligations of the public util…

61-1610. Disclaimer of state full faith and credit. Cost reduction rates, cost reduction property, and any related cost reduction instruments issued under this chapter and any applicable cost reduction orders do not constitute a debt or liability of this state or of any political…

61-1611. Severability. If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected.