Bill > S1965

This bill mandates that electric utility companies, referred to as "distribution companies," must work with the Department of Energy Resources to solicit proposals for "clean energy generation resources," which are defined as hydroelectric power or new renewable energy sources that are supported by hydroelectric power. These companies are required to enter into "long-term contracts," meaning agreements lasting 15 to 25 years, for a specific amount of electricity, with initial solicitations to begin by April 1, 2016. The Department of Energy Resources will oversee the solicitation process, potentially jointly with other states, and will determine if proposals are cost-effective and not unduly influenced by "project affiliation," which means a distribution company or its related entities owning or controlling the generation project. The bill also allows for the inclusion of transmission infrastructure in these contracts and requires review and approval from the Department of Public Utilities for all contracts to ensure they meet the Commonwealth's goals for reducing greenhouse gas emissions, as established by the Global Warming Solutions Act. Any profits or losses from reselling procured energy in the wholesale market will be passed on to customers.