Bill Text: NH SB113 | 2021 | Regular Session | Introduced
Bill Title: Relative to the alternative compliance payments for renewable energy obligations not met through the purchase of renewable energy credits.
Spectrum: Slight Partisan Bill (Republican 6-2)
Status: (Engrossed - Dead) 2021-10-26 - Executive Session: 10/26/2021 10:00 a.m. Legislative Office Building302-304 [SB113 Detail]
Download: New_Hampshire-2021-SB113-Introduced.html
SB 113 - AS INTRODUCED
2021 SESSION
21-0901
10/06
SENATE BILL 113
SPONSORS: Sen. Bradley, Dist 3; Sen. Watters, Dist 4; Sen. Giuda, Dist 2; Sen. Perkins Kwoka, Dist 21; Rep. Gordon, Graf. 9; Rep. Pearl, Merr. 26; Rep. Merner, Coos 7; Rep. Lang, Belk. 4
COMMITTEE: Energy and Natural Resources
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ANALYSIS
This bill sets the alternative compliance payment at $55 per megawatt hour to the renewable energy fund for electric distribution utility requirements not satisfied by renewable energy credits. This bill also changes the rate adjustments for certain class obligations.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
21-0901
10/06
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty One
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Findings and Purpose. The general court hereby finds that renewable energy policies should be technology neutral, so that one resource is not arbitrarily favored over another.
2 Electric Renewable Portfolio Standards; Electric Renewable Energy Classes. Amend RSA 362-F:4, I (c) to read as follows:
(c) Hydrogen derived from biomass fuels, water, or methane gas.
3 Electric Renewable Portfolio Standards; Renewable Energy Fund. Amend RSA 362-F:10, II-III to read as follows:
II. In lieu of meeting the portfolio requirements of RSA 362-F:3 for a given year if, and to the extent sufficient certificates are not otherwise available at a price below the amounts specified in this paragraph, an electricity provider may, at the time of report submission for that year under RSA 362-F:8, make payment to the commission at the following rates for each megawatt-hour not met for a given class obligation through the acquisition of certificates:
(a) Class I-$55, except for that portion of the class electric renewable portfolio standards to be met by qualifying renewable energy technologies producing useful thermal energy under RSA 362-F:3 which shall be [$25] $55 beginning January 1, [2013] 2021.
(b) Class II-$55.
(c) Class III-[$31.50] $55 beginning January 1, 2021.
(d) Class IV-[$26.50] $55 beginning January 1, 2021
III.(a) Beginning in 2013 for Class I (except for useful thermal energy under RSA 362-F:3) and Class II, and beginning in 2022 for Class I qualifying renewable energy technologies producing useful thermal energy under RSA 362-F:3, Class III, and Class IV, the commission shall adjust these rates by January 31 of each year using 1/2 of the Consumer Price Index as published by the Bureau of Labor Statistics of the United States Department of Labor [for classes III and IV and 1/2 of such Index for classes I and II].
(b) [In lieu of the adjustments under subparagraph (a) for class III in 2015 and 2016, the class rate in each of those years shall be $45. In lieu of the adjustments under subparagraph (a) for class III in 2017, 2018, and 2019, the class rate in each of those years shall be $55.
(c) By January 31, 2020 the commission shall compute the 2020 class III rate to equal the rate that would have resulted in 2020 by the application of subparagraph (a) to the 2013 rate and each subsequent year's rate to 2020.
(d) In 2021 and thereafter, the class III rate shall be determined by application of subparagraph (a) to the prior year's rate] The 2020 class rates for all classes are those in effect on December 1, 2020 as posted by the commission.
4 Effective Date. This act shall take effect 60 days after its passage.
