69-3-1611. Effect on commission jurisdiction. (1) Except as provided in subsection (2), if the commission issues a financing order to an electric utility, the commission may not, in exercising its powers and carrying out its duties pursuant to Title 69:

(a) consider the Montana energy impact assistance bonds issued pursuant to the financing order to be debt of the electric utility other than for income tax purposes unless it is necessary to consider the Montana energy impact assistance bonds to be debt to achieve consistency with prevailing utility debt rating methodologies;

(b) consider the Montana energy impact assistance charges paid under the financing order to be revenue of the electric utility;

(c) except as otherwise provided for in this part or for the purposes of establishing the electric utility's base rates, consider the Montana energy impact assistance costs or financing costs specified in the financing order to be the regulated costs or assets of the electric utility; or

(d) determine any prudent action taken by an electric utility that is consistent with the financing order to be unjust or unreasonable.

(2) Nothing in subsection (1):

(a) affects the authority of the commission to apply or modify any billing mechanism designed to recover Montana energy impact assistance charges;

(b) prevents or precludes the commission from investigating the compliance of an electric utility with the terms and conditions of a financing order and requiring compliance with the financing order; or

(c) prevents or precludes the commission from imposing regulatory sanctions against an electric utility for failure to comply with the terms and conditions of a financing order or the requirements of this part.

(3) The commission may not refuse to allow the recovery of any costs associated with the retirement or replacement of electric infrastructure or facilities by an electric utility solely because the electric utility has elected to finance those activities through a financing mechanism other than Montana energy impact assistance bonds.

(4) The commission shall authorize mitigating remedies to offset an electric utility's book losses, as determined necessary by the commission.