69-8-210. Public utilities -- electricity supply. (1) On the effective date of a commission order implementing a public utility's transition plan pursuant to 69-8-202, the public utility shall remove its generation assets from the rate base.
     (2) During the transition period, the commission may establish cost-based prices for electricity supply service for customers that do not have a choice of electricity supply service or that have not yet chosen an electricity supplier.
     (3) If the transition period is extended, then the customers' distribution services provider shall:
     (a) extend any cost-based contract with the distribution services provider's affiliate supplier for a term not more than 3 years; or
     (b) purchase electricity from the market; and
     (c) use a mechanism that recovers electricity supply costs in rates to ensure that those costs are fully recovered.
     (4) If a public utility intends to be an electricity supplier through an unregulated division, then the public utility must be licensed as an electricity supplier pursuant to 69-8-404.

     History: En. Sec. 11, Ch. 505, L. 1997.