Bill > S2529

This bill aims to reduce the financial penalty imposed on customers who shift to heat pumps, electric appliances, and electric vehicles. Key provisions include: 1. Requiring electric companies to recover a reasonable and substantial portion of their assessment costs through income-based fixed charges, where lower-income ratepayers pay smaller fixed charges than higher-income ratepayers. 2. Mandating electric and gas companies to deliver energy efficiency programs in a cost-effective manner, with a portion of the funding allocated to low-income residential programs. 3. Requiring electric companies to file schedules of rates, prices, and charges that have a substantial likelihood of advancing greenhouse gas emissions reduction goals and mitigating impacts on lower-income ratepayers, and to utilize income-based fixed charges to recover a reasonable portion of their fixed costs. 4. Directing the Department of Public Utilities to approve or adopt rates, prices, and charges that comply with the amended law within 20 months of the bill's effective date. The bill also authorizes the Department of Public Utilities to promulgate regulations to implement the act.

Budget and Finance, Transportation and Infrastructure

https://malegislature.gov/Bills/193/S2529