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(a) An eligible electric utility shall submit a power cost equalization report to the authority within 10 working days after the end of its billing period. The report must set out the power consumption of the previous month and must be in the format required by the authority. Within each fiscal year an eligible electric utility shall submit 12 separate monthly reports.
(b) Power cost equalization payments will not be made for power consumed through June 30 of a year if the relevant monthly report is received after August 31 of that year.
(c) An eligible electric utility shall report separately, in the format required by the authority, the power eligible for power cost equalization that is consumed by each of its customers.
(d) An eligible electric utility shall keep accurate periodic written records for the fuel day meters, generating meters, and station service meters required by 3 AAC 107.200.
(e) An eligible electric utility shall organize and maintain, in accordance with standard accounting practices, the accounts of its electric fund as a separate accounting entity in a self-balancing set of accounts that includes the assets, liabilities, balance, revenue, and expenses of the electric fund.
(f) An eligible electric utility shall make its records available to the authority and the commission within 60 days after receipt of a request to do so.
(g) Failure to comply with (f) of this section may result in
(1) suspension by the authority of the power cost equalization disbursements to the eligible electric utility, until satisfactory records are provided;
(2) loss of the suspended power cost equalization disbursements, if satisfactory records are not submitted by January 31 of the following fiscal year.
History: Eff. 2/16/96, Register 137
Authority: AS 42.45.100
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Last modified 7/05/2006