Allows public utilities to earn a return on strategic investments through a surcharge until the next general rate case.

The bill allows public utilities to earn a fair and reasonable return on strategic investments through a surcharge until the next general rate case. It outlines the process for calculating the surcharge, including using year-end information for construction work in progress and approved cost of capital. The Alaska Public Utilities Commission must adopt regulations for approving and monitoring these surcharges. Utilities must notify the commission of their intent to implement a surcharge and file annual updates. The commission must issue a final order on a surcharge request within 90 days.

Allows public utilities to earn a return on strategic investments through a surcharge until the next general rate case.

The bill allows public utilities to earn a fair and reasonable return on strategic investments through a surcharge until the next general rate case. It outlines the process for calculating the surcharge, including using year-end information for construction work in progress and approved cost of capital. The Alaska Public Utilities Commission must adopt regulations for approving and monitoring these surcharges. Utilities must notify the commission of their intent to implement a surcharge and file annual updates. The commission must issue a final order on a surcharge request within 90 days.