§ 39-20-3 - Powers of domestic electric utilities.
SECTION 39-20-3
§ 39-20-3 Powers of domestic electricutilities. – Notwithstanding any contrary provisions of any general or special law relatingto the powers and authorities of domestic electric utilities or any limitationimposed by their charters (which are hereby amended), but subject to theprovisions of this title and this chapter, a domestic electric utility shallhave the following additional powers:
(1) Jointly or separately to plan, finance, construct,purchase, operate, maintain, use, share costs of, own, mortgage, lease, sell,provide services for, dispose of, or otherwise participate in electricgenerating facilities or portions thereof within or without the state or theproduct or service therefrom or securities issued in connection with thefinancing of electric generating facilities or portions thereof;
(2) To enter into and perform contracts for joint or separateplanning, financing, construction, purchase, operation, maintenance, use,sharing costs of, ownership, mortgaging, leasing, sale, providing services for,disposal of, or other participation in electric generating facilities, orportions thereof, within or without the state, or the product or servicetherefrom, or securities issued in connection with the financing of electricgenerating facilities or portions thereof, including, without limitation,contracts for the payment of obligations imposed without regard to theoperational status of a facility or facilities and contracts with domestic orforeign electric utilities for the sale or purchase of electricity from anelectric generating facility or facilities for long or short periods of time orfor the life of a specific electric generating unit or units; and
(3) To enter into and perform contracts for the transmissionboth within or without the state of the capacity and related energy from aspecifically identified electric generating facility, wherever located, to itsown retail service territory, or to any purchaser of such capacity and relatedenergy; provided, however, that nothing in this section shall be construed toauthorize a domestic electric utility to sell electricity at wholesale orretail within or without this state unless:
(i) The sale is authorized under its charter or the generalor special laws of this state other than this chapter, or
(ii) The sale constitutes a sale of capacity and relatedenergy from a specifically identified electric generating facility or a sale ofeconomy, backup, and other energy therefrom.