LITTLE ROCK, Ark. – The bill to change the process for oversight of electric utility construction failed in its floor vote in the Arkansas Senate on Wednesday.
Senate Bill 307 failed in a 17-11 vote, with four not voting. The debate leading up to the vote was over the bill’s provisions for Public Service Commission oversight of rate changes and how construction costs would impact ratepayers.
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Sen. Jonathan Dismang (R-Searcy), the bill’s lead sponsor, filed a motion to allow the bill to come up for a re-vote.
Senators who spoke on the bill both for and against were in unfailing agreement that utility costs in Arkansas were due to rise because two of the state’s coal-fired power plants are set for shutdown in 2030, bringing a 3.3 million kilowatt drop in capacity.
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Supporters of the bill pointed to its ability to make incremental rate increases for new construction because utilities could increase rates at the start of construction. Detractors felt too much power went to the utility companies and would ultimately harm ratepayers, especially those on fixed incomes…