Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. SB 1238
       
       
       
       
       
       
                                Ì789608OÎ789608                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/25/2017           .                                
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       The Committee on Rules (Latvala) recommended the following:
       
    1         Senate Substitute for Amendment (383720) (with title
    2  amendment)
    3  
    4         Between lines 49 and 50
    5  insert:
    6         Section 2. (1) Annually, each public utility shall file
    7  with the Public Service Commission a detailed comparison of all
    8  gas reserve projects entered into on behalf of the utility and
    9  any affiliate or subsidiary of the utility’s parent company as
   10  part of its Risk Management Plan. The information must be the
   11  same for each gas reserve project entered into by any affiliate
   12  or subsidiary which was used to support or justify the
   13  appropriateness of each gas reserve project entered into during
   14  the reporting period. The filing must:
   15         (a) Show all material assumptions relied upon to support
   16  each gas reserve project, including the capital investment
   17  amount;
   18         (b) Calculate the associated revenue requirement for each
   19  gas reserve project; and
   20         (c) Provide the net present value savings for each gas
   21  reserve project entered into by any affiliate or subsidiary of a
   22  parent company.
   23         (2) For any gas reserve project, the utility shall use an
   24  independent third-party auditor in performing audits of the
   25  associated transactions. Subaccounts that correspond on a one
   26  on-one basis with the oil and gas system of accounts shall be
   27  established and used by the utility for each investment in a gas
   28  reserve project.
   29         (3) A public utility may enter into a gas reserves project
   30  only if there is a transportation path available to deliver the
   31  gas produced from that project to the public utility’s service
   32  territory. The costs of any new transportation needed to deliver
   33  gas from a gas reserve project must be taken into consideration
   34  when analyzing the economics of that project.
   35  
   36  ================= T I T L E  A M E N D M E N T ================
   37  And the title is amended as follows:
   38         Delete line 9
   39  and insert:
   40         investments; requiring each public utility to file
   41         with the commission a comparison of all gas reserve
   42         projects entered into on behalf of the utility and any
   43         affiliate or subsidiary of the parent company as part
   44         of its Risk Management Plan; specifying the
   45         requirements of the filing; requiring the use of a
   46         third-party auditor for audits of associated
   47         transactions for a gas reserve project; requiring a
   48         public utility entering into a gas reserves project to
   49         have a transportation path between the project and the
   50         utility’s service territory; specifying the accounting
   51         of the costs of any new transportation in the economic
   52         analysis of projects; providing an effective date.