Introduced
by
To mandate that electric utilities acquire at least 4 percent of their power from “renewable” sources, growing to at least 8 percent by 2013. The Public Service Commission would be authorized to regulate the duration and terms of contracts under which utilities obtain such power, in general mandating that the contract be for at least 20 years (to allow the provider to get financing to establish the renewable source). The bill would also authorize trading of renewable energy “credits” between utilities that exceed or fall short of the mandated quantity, and would impose fines of $50 for each megawatt hour that a utility falls short in production or credits. Finally, it would require utilities to provide rebates to solar electricity generation providers, and to pay for these by tacking extra fees onto the electricity bills of customers. "Renewable energy" is defined as that generated by biomass, geothermal, solar, wind, hydroelectric, and gas captured from the decomposition of waste. It does not include nuclear power.
Referred to the Committee on Energy and Technology
