OLR Bill Analysis

sHB 6603

AN ACT CONCERNING THE CLASS III RENEWABLE PORTFOLIO STANDARD.

SUMMARY:

By law, electric companies and competitive electric suppliers must satisfy part of their requirements by obtaining Class III resources, which include savings from conservation and load management programs. (Load management involves shifting electricity demand to off-peak periods. ) The owners of these resources receive credits, which are valued at no less than one cent per kilowatt-hour. (The amount of power used by ten 100-watt light bulbs in one hour. )

Under current law, for residential conservation and load management projects, 75% of the value of the credits goes to the electric companies' conservation and load management funds. The bill limits this provision to projects that have received conservation and load management funding (presumably from these funds). It allows market—based providers to aggregate the credits earned by residential customers who have received no such funding. It requires that the credits for projects that serve residential customers that received no conservation and load management funding go to the customer who implemented the measures or to the market-based provider the customer designates.

EFFECTIVE DATE: Upon passage

COMMITTEE ACTION

Energy and Technology Committee

Joint Favorable