Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-18-106. Arkansas Public Service Commission--Authority over electric utilities

(a) The Arkansas Public Service Commission shall have the authority to adopt rules under which electric utilities shall seek commission review and approval of the processes, actions, and plans by which the utilities:

(b) With regard to electric cooperatives formed under the Electric Cooperative Corporation Act, § 23-18-301 et seq., to the extent that an electric distribution cooperative purchases electricity from an electric generation and transmission cooperative pursuant to a wholesale power contract, the authority granted to the commission by subdivisions (a)(1) and (2) of this section shall not extend to the electric distribution cooperative to the extent of such purchases but shall only extend to the electric generation and transmission cooperative.

(c) Subsection (a) of this section does not apply to any transaction involving the acquisition of generation assets, which is closed and finalized prior to the adoption of the rules authorized in subsection (a) of this section, or within one (1) year after February 21, 2003, whichever comes later, and which is the subject of an order or ruling of any federal or state regulatory agency issued on or before January 1, 2003.

(e) The commission may require an electric public utility that is owned by a public utility holding company, as defined by section 1262 of the Energy Policy Act of 2005, Pub. L. No. 109-58,  1 and engages in centralized system-wide resource planning to withdraw from centralized system-wide resource planning if: