Indiana Code Title 8. Utilities and Transportation § 8-1-8.4-7

(1) before;  or

(2) within a reasonable time with respect to;

(1) made a finding that the public convenience and necessity will be served by the compliance project;

(2) approved the incurred and projected federally mandated costs associated with the compliance project;  and

(3) made a finding on each of the factors set forth in section 6(b) of this chapter.

(1) Eighty percent (80%) of the approved federally mandated costs shall be recovered by the energy utility through a periodic retail rate adjustment mechanism that allows the timely recovery of the approved federally mandated costs.

The commission shall adjust the energy utility's authorized net operating income to reflect any approved earnings for purposes of IC 8-1-2-42(d)(3) and IC 8-1-2-42(g)(3), with recovery commencing no earlier than:

(2) Twenty percent (20%) of the approved federally mandated costs, including depreciation, allowance for funds used during construction, and post in service carrying costs, based on the overall cost of capital most recently approved by the commission, shall be deferred and recovered by the energy utility as part of the next general rate case filed by the energy utility with the commission.

(3) Actual costs that exceed the projected federally mandated costs of the approved compliance project by more than twenty-five percent (25%) shall require specific justification by the energy utility and specific approval by the commission before being authorized in the next general rate case filed by the energy utility with the commission.