N.J. Admin. Code § 14:3-2A.5

Current through Register Vol. 56, No. 18, September 16, 2024

Section 14:3-2A.5 - Infrastructure Investment Program minimum filing and reporting requirements

(a) All Infrastructure Investment Programs shall be voluntary, in that a utility shall not be required by the Board to establish an Infrastructure Investment Program.

(b) A utility requesting approval of an Infrastructure Investment Program shall include within its petition:

1. Projected annual capital expenditure budgets for a five-year period, identified by major categories of expenditures;

2. Actual annual capital expenditures for the previous five years, identified by major categories of expenditures;

3. An engineering evaluation and report identifying the specific projects to be included in the proposed Infrastructure Investment Program, with descriptions of project objectives-including the specific expected resilience benefits, detailed cost estimates, in service dates, and any applicable cost-benefit analysis for each project;

4. An Infrastructure Investment Program budget setting forth annual budget expenditures;

5. A proposal addressing when the utility intends to file its next base rate case, consistent with N.J.A.C. 14:3-2A.6(f);

6. Proposed annual baseline spending levels, consistent with N.J.A.C. 14:3-2A.3(a) and (b);

7. The maximum dollar amount, in aggregate, the utility seeks to recover through the Infrastructure Investment Program; and

8. The estimated rate impact of the proposed Infrastructure Investment Program on customers.

(c) In considering a utility's petition in support of an Infrastructure Investment Program, the Board may require that the utility:

1. Provide any supplemental information, beyond the information required under N.J.A.C. 14:3-2A.5(b), that the Board deems necessary to evaluate the utility's petition in support of an Infrastructure Investment Program;

2. Retain an independent Infrastructure Investment Program monitor, as a condition of approval of the utility's petition, to review and provide quarterly or semi-annual reports to the Board and to the Division of Rate Counsel, where the monitor shall be paid by the utility. If the Board requires an independent Infrastructure Investment Program monitor, the monitor's reports shall address:

i. The effectiveness of Infrastructure Investment Program investments in meeting project objectives;

ii. The cost-effectiveness and efficiency of investments;

iii. The appropriateness of cost assignments; and

iv. Any other information required by the Board.

(d) Before the Board approves an Infrastructure Investment Program, the Board shall conduct a public hearing. Notice of the public hearing shall contain the maximum dollar amount the utility seeks to recover through its Infrastructure Investment Program and the utility's estimated rate impact.

(e) Following the Board's approval of a utility's petition in support of an Infrastructure Investment Program, the utility shall file supportive semi-annual status reports with the Board and the Division of Rate Counsel for project management and oversight purposes that, at a minimum, contain the following:

1. Forecasted and actual costs of the Infrastructure Investment Program for the applicable reporting period, and for the Infrastructure Investment Program to date, where Infrastructure Investment Program projects are identified by major category;

2. The estimated total quantity of work completed under the Infrastructure Investment Program identified by major category. In the event that the work cannot be quantified, major tasks completed shall be provided;

3. Estimated completion dates for the Infrastructure Investment Program as a whole, and estimated completion dates for each major Infrastructure Investment Program category;

4. Anticipated changes to Infrastructure Investment Program projects, if any;

5. Actual capital expenditures made by the utility in the normal course of business on similar projects, identified by major category; and

6. Any other performance metrics concerning the Infrastructure Investment Program required by the Board.

N.J. Admin. Code § 14:3-2A.5

Adopted by 50 N.J.R. 630(a), effective 1/16/2018