476.74  Affiliate information required to be filed.
  1.  Goods and services.  All contracts or arrangements providing for the furnishing or receiving of goods and services including but not limited to the furnishing or receiving of management, supervisory, construction, engineering, accounting, legal, financial, marketing, data processing, or similar services made or entered into on or after July 1, 1989, between a public utility and any affiliate shall be filed annually with the commission.
  2.  Sales, purchases, and leases.  All contracts or arrangements for the purchase, sale, lease, or exchange of any property, right, or thing made or entered into on or after July 1, 1989, between a public utility and any affiliate shall be filed annually with the commission.
  3.  Loans.  All contracts or arrangements providing for any loan of money or an extension or renewal of any loan of money or any similar transaction made or entered into on or after July 1, 1989, between a public utility and any affiliate, whether as guarantor, endorser, surety, or otherwise, shall be filed annually with the commission.
  4.  Verified copies required.  Every public utility shall file with the commission a verified copy of the contract or arrangement referred to in this section, or a verified summary of the unwritten contract or arrangement, and also of all the contracts and arrangements or a verified summary of the unwritten contracts or arrangements, whether written or unwritten, entered into prior to July 1, 1989, and in force and effect at that time. Any contract or agreement determined by the commission to be a confidential record pursuant to section 22.7 shall be returned to the public utility filing the confidential record within sixty days after the contract or agreement is filed.
  5.  Exemption.  The provisions of this section requiring filing of contracts or agreements with the commission shall not apply to transactions with an affiliate where the amount of consideration involved is not in excess of two hundred fifty thousand dollars. However, regularly recurring payments under a general or continuing arrangement that aggregate a greater annual amount shall not be broken down into a series of transactions to come within this exemption. In any proceeding involving the rates, charges, or practices of the public utility, the commission may exclude from the accounts of the public utility any unreasonable payment or compensation made pursuant to any contract or arrangement that is not required to be filed under this subsection.
  6.  Continuing jurisdiction.  The commission shall have the same jurisdiction over modifications or amendments of contracts or arrangements in this section as it has over the original contracts or arrangements. Any modification or amendment of contracts or arrangements shall also be filed annually with the commission.
  7.  Sanction.  For ratemaking purposes, the commission may exclude the payment or compensation to an affiliate or adjust the revenue received from an affiliate associated with any contract or arrangement required to be filed with the commission if the contract or arrangement is not so filed.
  8.  Alternative information.  The commission shall consult with other state and federal regulatory agencies for the purpose of eliminating duplicate or conflicting filing requirements and may adopt rules which provide that comparable information required to be filed with other state or federal regulatory agencies may be accepted by the commission in lieu of information required by this section.
  9.  Reasonableness required.  In any proceeding, whether upon the commission’s own motion or upon application or complaint involving the rates, charges, or practices of any public utility, the commission, for ratemaking purposes may exclude from the accounts of the public utility or adjust any payment or compensation related to any transaction with an affiliate for any services rendered or for any property or service furnished or received, as described in this section, under contracts or arrangements with an affiliate unless and upon inquiry the public utility shall establish the reasonableness of the payment or compensation.
  10.  Exemption by rule or waiver.  The commission may adopt rules which exempt any public utility or class of public utility or class of contracts or arrangements from this section or waive the requirements of this section if the commission finds that the exemption or waiver is in the public interest.
89 Acts, ch 103, §5; 2024 Acts, ch 1108, §5; 2024 Acts, ch 1170, §369
Code editor directive applied
Subsection 5 amended