(1) A gas company or electrical company shall, upon request, enter into one or more written agreements with organizations that represent broad customer interests in regulatory proceedings conducted by the commission, subject to commission approval in accordance with subsection (2) of this section, including but not limited to organizations representing low-income, commercial, and industrial customers, vulnerable populations, or highly impacted communities. The agreement must govern the manner in which financial assistance may be provided to the organization. More than one gas company, electrical company, or organization representing customer interests may join in a single agreement. Any agreement entered into under this section must be approved, approved with modifications, or rejected by the commission. The commission must consider whether the agreement is consistent with a reasonable allocation of financial assistance provided to organizations pursuant to this section among classes of customers of the gas or electrical company.
(2) Before administering an agreement entered into under subsection (1) of this section, the commission shall, by rule or order, determine:
(a) The amount of financial assistance, if any, that may be provided to any organization;
(b) The manner in which the financial assistance is distributed;
(c) The manner in which the financial assistance is recovered in the rates of the gas company or electrical company under subsection (3) of this section; and
(d) Other matters necessary to administer the agreement.
(3) The commission shall allow a gas company or electrical company that provides financial assistance under this section to recover the amounts provided in rates. The commission shall allow a gas company or electrical company to defer inclusion of those amounts in rates if the gas company or electrical company so elects. An agreement under this section may not provide for payment of any amounts to the commission.
(4) Organizations representing vulnerable populations or highly impacted communities must be prioritized for funding under this section.