Bill > H4377

This bill aims to promote energy diversity by requiring distribution companies, which are entities that deliver electricity to consumers, to solicit and enter into long-term contracts for offshore wind energy generation and other clean energy generation resources. Specifically, it mandates that by June 30, 2017, distribution companies must begin soliciting proposals for offshore wind energy generation, with a goal of securing 1200 megawatts of capacity by June 30, 2027, through cost-effective contracts approved by the Department of Public Utilities (DPU). Additionally, starting January 1, 2017, distribution companies must solicit proposals for clean energy generation resources to deliver a total of 9,450,000 megawatt-hours annually by December 31, 2022, also through approved long-term contracts or delivery commitment agreements, which are defined as contractual commitments to deliver electricity over 15 to 20 years. The bill outlines definitions for terms like "clean energy generation" and "firm service hydroelectric generation," which refers to hydroelectric power provided without interruption for a set period or through managed portfolios of multiple units. It also establishes processes for competitive bidding, contract approval by the DPU, and the involvement of the Department of Energy Resources and the Attorney General's office, including the selection of an independent evaluator to ensure fairness and transparency in the procurement process. The bill also addresses how transmission costs can be recovered and ensures that procured energy and renewable energy certificates (RECs) are managed in a way that benefits ratepayers, with any net costs or credits being passed on through distribution rates.