OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
AN ACT CONCERNING CONNECTICUT'S CLEAN ENERGY GOALS.
LCO No.: 6329
File Copy No.: 120
Senate Calendar No.: 141
OFA Fiscal Note
The amendment strikes the underlying bill and its associated fiscal impact.
The amendment reduces the percentage of Class I resources to be used under the renewable portfolio standard requirements from January 1, 2013 to January 1, 2023. This will result in reduced costs to ratepayers, including the state and municipalities as demand is reduced.
The amendment also changes to how certain compliance payments and civil penalties are handled.1 Under current law, these payments are used for the development of Class I renewable energy sources. The amendment requires these payments to be used to offset ratepayer's costs for certain contracts prior to being used for the development of Class I renewable energy sources. This provision will result in reduced costs to ratepayers, including the state and municipalities.
The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.
1 To-date in FY 13, the Clean Energy Fund has received $215,000 in compliance payments for 2009 noncompliance of electric companies and $2,000 in civil penalties from competitive suppliers.