Sec. 12. (a) Not more than one hundred twenty (120) days after a public utility files a petition under section 9 of this chapter, the commission shall conduct a hearing and issue an order on the petition.

(b) Not more than sixty (60) days after a public utility files a petition under section 9 of this chapter, the office of the utility consumer counselor and other intervenors, if any, may:

(1) examine the information of the public utility to confirm that the proposed transmission, distribution, and storage system improvements comply with this chapter; and

(2) report its findings to the commission.

(c) If the commission determines that the petition satisfies the requirements of this chapter and the capital expenditures and TDSIC costs are reasonable, the commission shall approve the petition, including:

(1) capital expenditures;

(2) timely recovery of TDSIC costs, including costs associated with a targeted economic development project, through a TDSIC; and

(3) if requested, authority to defer TDSIC costs under section 9(c) of this chapter.

(d) If the public utility has requested approval of new targeted economic development projects or new transmission, distribution, and storage system improvements under section 9(b) of this chapter, the commission's order must include the following:

(1) A finding of the best estimate of the cost of the new projects or improvements.

(2) A determination whether public convenience and necessity require or will require the new projects or improvements.

(3) A determination whether the estimated costs of the new projects or improvements are justified by incremental benefits attributable to the new projects or improvements.

If the commission determines that the public utility's new projects or improvements are reasonable, the commission shall approve the new projects or improvements and authorize TDSIC treatment for the new projects or improvements.

As added by P.L.133-2013, SEC.5. Amended by P.L.89-2019, SEC.6.