Energy (Oil & Gas)

HB 3455 modifies how electrical utilities calculate rates by changing rules for including "construction work in progress" (CWIP) costs - like expenses for new power plants - into their rate base (the assets used to set utility rates). It allows utilities to include CWIP for new natural gas-generating units in rates, but requires commission approval based on project costs and timelines, with refunds if costs were wasted or projects stalled. The bill also sets a 2035 expiration date for these rules unless extended, and mandates utilities to use future-year data (starting July 2026) for rate calculations, requiring updated reporting after the test year ends. These changes directly affect electrical corporations and the Public Utility Commission’s oversight role.

HB 2598 establishes the Missouri Advanced Nuclear Energy Office and a dedicated fund to provide grants for eligible nuclear energy projects in the state. The bill creates a new office within the Department of Natural Resources to administer grants covering pre-construction costs like site planning, engineering, and licensing fees for projects combining advanced nuclear reactors (including small modular reactors) with natural gas facilities. Grants are capped at $100 million per project, require that natural gas electricity sales fund nuclear project costs until commissioning, and prohibit use for projects recovering costs through utility rates. The office must ensure transparent grant allocation, track project performance, and maintain confidentiality of applicant information.