that Engrossed House Bill 1722 be amended to read as follows:
Page 4, delete line 11 and insert"If".
Page 4, line 15, delete "shall" and insert "may".
Page 4, delete lines 34 through 40, begin a new paragraph and insert: (e) The commission shall allow recovery of costs under subsections (c) and (d) only if the commission finds, after notice and hearing, that:
(1) the gas utility has made every reasonable effort to acquire long term gas supplies so as to provide gas to its retail customers at the lowest gas costs reasonably possible;
(2) the substitute gas supplier or suppliers of the gas utility has requested or has filed for a change in the costs of gas pursuant to the jurisdiction and procedures of a duty constituted regulatory authority;
(3) the supply of substitute gas has been and will continue to be as reliable and adequate as traditional supplies of natural gas;
(4) the cost recovery applied for will not result, in the case of a public utility, in it earning a return in excess of the return authorized by the commission in the last proceeding in which the basic rates and charges of the public utility were approved; however, if the cost recovery applied for will result in the public utility earning a return in excess of the return authorized by the commission in the last proceeding in which basic rates and charges of the gas utility were approved, the gas cost recovery applied for will be reduced to the point where so such excess of return will be earned.
Page 5, line 1, delete "adversely" and insert " would result in retail customers paying more than the lowest gas cost reasonably
Page 5, delete lines 2 through 3.
Page 5, line 7, delete "effect" and insert " the public interest".
Page 5, line 11, delete "limiting, altering, or" and insert " retail customers paying more than the lowest gas cost reasonably possible.".
Page 5, delete lines 12 through 13.
Page 9, delete lines 29 through 42.
Delete pages 10 through 13.
Page 14, delete lines 1 through 34.
Page 15, line 14, delete "allow Indiana energy utilities to recover" and insert " protect Indiana's utility customers from undue risks and unreasonable".
Page 15, line 15, delete "through rate adjustments for the utility's customers,".
Page 15, line 17, delete "promote the creation of such contracts" and insert " ensure that the utility's residential, commercial and industrial customers do not pay more for substitute natural gas than the lowest gas cost reasonably possible.".
Page 15, delete line 18.
Renumber all SECTIONS consecutively.
(Reference is to EHB 1722 as printed March 16, 2007.)