Section 77-3-93 - Cost of purchasing electricity from non-utility generator for period in excess of 30 days included as expense item for purpose of calculating rates(1) Whenever a utility purchases at wholesale from a nonutility generator or some nonassociated source all or a portion of its electric capacity and/or energy requirements for a period in excess of thirty (30) days, such utility shall be entitled to include as expense items in its revenue requirements, for the purpose of the calculation of its rates for retail service, the cost of such capacity and energy so purchased, and in addition to such cost, an amount representing a return on the capacity purchased over the period of the test year which is being used to calculate the revenue requirements. This amount shall be calculated using the return allowed by the commission as provided in Section 77-3-95. Notwithstanding the above or any provision of law to the contrary, for any renewable power purchase entered into after July 1, 2020, including, but not limited to, solar, wind, biomass or storage, a utility shall be entitled to incorporate renewable purchased costs in its rate base.(2) Nothing in Sections 77-3-91 through 77-3-95 shall be interpreted to allow a return on the energy purchased by a utility pursuant to its obligation to purchase energy under the federal Public Utilities Regulatory Policy Act of 1978.(3) With respect to any facility or contract for a facility serving a customer under Section 22 of this act, nothing in this section shall supersede the provisions of Section 22 of this act.Laws, 1994, ch. 316, § 2, eff. 3/10/1994.Amended by Laws, 2024EX2, ch. 3, SB 2001,§ 32, eff. 1/30/2024.Amended by Laws, 2020, ch. 387, SB 2386,§ 21, eff. 7/1/2020.