NRS704.187. Use of deferred accounting by certain electric utilities; procedure; limitations.

      1.  An electric utility that purchases fuel or power shall use deferred accounting by recording upon its books and records in deferred accounts all increases and decreases in costs for purchased fuel and purchased power that are prudently incurred by the electric utility.

      2.  An electric utility using deferred accounting shall include in its annual report to the Commission a statement showing, for the period of recovery, the allocated rate of return for each of its operating departments in this State using deferred accounting.

      3.  Except as otherwise provided in this section, an electric utility using deferred accounting shall file an annual deferred energy accounting adjustment application on or before March 1, 2008, and on or before March 1 of each year thereafter.

      4.  An electric utility that purchases fuel or power and has received approval from the Commission to make quarterly adjustments to its deferred energy accounting adjustment pursuant to subsection 10 of NRS 704.110 is not eligible to request an adjustment to its deferred energy accounting adjustment in its annual deferred energy accounting adjustment application.

      5.  As used in this section:

      (a) “Annual deferred energy accounting adjustment application” means an application filed by an electric utility pursuant to this section and subsection 11 of NRS 704.110.

      (b) “Costs for purchased fuel and purchased power” means all costs which are prudently incurred by an electric utility and which are required to purchase fuel, to purchase capacity and to purchase energy. The term does not include any costs that the Commission determines are not recoverable pursuant to subsection 11 of NRS 704.110.

      (c) “Electric utility” means any public utility or successor in interest that:

             (1) Is in the business of providing electric service to customers;

             (2) Holds a certificate of public convenience and necessity issued or transferred pursuant to this chapter; and

             (3) In the most recently completed calendar year or in any other calendar year within the 7 calendar years immediately preceding the most recently completed calendar year, had a gross operating revenue of $250,000,000 or more in this State.

Ê The term does not include a cooperative association, nonprofit corporation, nonprofit association or provider of electric service which is declared to be a public utility pursuant to NRS 704.673 and which provides service only to its members.

      (Added to NRS by 2001, 345; A 2005, 1279, 1924; 2007, 2985; 2011, 393)