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Bill > SB2473

IL SB2473

IL SB2473
UTIL-TIME-OF-USE PRICING

summary

Introduced
02/07/2025
In Committee
06/02/2025
Crossed Over
Passed
Dead

Introduced Session

Potential new amendment
104th General Assembly

Bill Summary

Creates the Municipal and Cooperative Electric Utility Planning and Transparency Act. Provides that, by November 1, 2025, and by November 1 every 3 years thereafter, all electric cooperatives with members in the State, municipal power agencies, and municipalities shall file with the Illinois Power Agency an integrated resource plan. Sets forth provisions concerning the plan. Amends the Illinois Power Agency Act. Authorizes the Illinois Power Agency to develop capacity procurement plans and conduct competitive procurement processes for the procurement of capacity needed to ensure environmentally sustainable long-term resource adequacy across the State at the lowest cost over time. Amends the Public Utilities Act. Changes the cumulative persisting annual savings goals for electric utilities that serve less than 3,000,000 retail customers but more than 500,000 retail customers for the years of 2025 through 2030. Provides that the cumulative persisting annual savings goals beyond the year 2030 shall increase by 0.9 (rather than 0.6) percentage points per year. Changes the requirements for submitting proposed plans and funding levels to meet savings goals for an electric utility serving more than 500,000 retail customers (rather than serving less than 3,000,000 retail customers but more than 500,000 retail customers). Provides that an electric utility that has a tariff approved within one year of the amendatory Act shall also offer at least one market-based, time-of-use rate for eligible retail customers that choose to take power and energy supply service from the utility. Sets forth provisions regarding the Illinois Commerce Commission's powers and duties related to residential time-of-use pricing. Provides that each capacity procurement event may include the procurement of capacity through a mix of contracts with different terms and different initial delivery dates. Sets forth the requirements of prepared capacity procurement plans. Requires each alternative electric supplier to make payment to an applicable electric utility for capacity, receive transfers of capacity credits, report capacity credits procured on its behalf to the applicable regional transmission organization, and submit the capacity credits to the applicable regional transmission organization under that regional transmission organization's rules and procedures. Makes other changes. Effective immediately.

AI Summary

Here's a summary of the key provisions of this bill: This bill creates the Municipal and Cooperative Electric Utility Planning and Transparency Act, which requires electric cooperatives, municipal power agencies, and municipalities to file integrated resource plans with the Illinois Power Agency. The plans must comprehensively describe the utility's current energy portfolio, forecast future load changes, and outline steps to reduce customer costs and environmental impacts. Key requirements include: 1. Utilities must submit integrated resource plans every three years, starting November 1, 2025, detailing their electricity generation facilities, power purchase agreements, demand-side programs, and transmission resources. 2. Plans must cover a 20-year planning period and include detailed information about existing generation facilities, including location, fuel type, capacity, and expected retirement dates. 3. Utilities must develop a 5-year action plan for meeting forecasted load while minimizing customer costs and environmental impacts. 4. The plans must include a least-cost strategy for constructing or procuring renewable energy resources, with targets of 25% renewable energy by 2026, increasing to 40% by 2030, and 100% renewable energy by 2045. 5. Utilities must hold at least two public stakeholder meetings before submitting their plans, allowing for community input and transparency. 6. The Illinois Power Agency will review the plans, facilitate public comment, and work with utilities to refine their strategies. The bill also includes provisions for cost-of-service studies, independent expert assistance, and enhanced governance and accountability measures for electric cooperatives, including more transparent board elections and financial reporting.

Committee Categories

Agriculture and Natural Resources

Sponsors (8)

Last Action

Rule 3-9(a) / Re-referred to Assignments (on 06/02/2025)

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