Allows electrical corporations to charge for services based on the costs of certain construction work in progress

The bill title and purpose were changed to include natural gas-generating units in addition to clean baseload electric generating plants.

The megawatt threshold for clean baseload generating plants was reduced from 600 megawatts to 300 megawatts to allow for smaller small modular nuclear reactors.

A new definition for 'small modular nuclear reactor' was added to clarify what qualifies under the 300 megawatt limit.

The original bill did not have an expiration date, but the committee substitute added a sunset date of December 31, 2035, with a possible extension to December 31, 2045.

The mechanism for recovering construction costs was changed from a general provision to specific rules governing rate base inclusion for both natural gas and nuclear projects, including refund provisions for imprudently incurred costs.