OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 ↓ (860) 240-0200
AN ACT REQUIRING THE PUBLIC UTILITIES REGULATORY AUTHORITY TO INITIATE A DOCKET TO STUDY RENEWABLE NATURAL GAS AND CONCERNING CONTRACTS FOR ELECTRICITY GENERATED FROM A BIOMASS FACILITY.
LCO No.: 4125
File Copy No.: 283
Senate Calendar No.: 192
OFA Fiscal Note
See Fiscal Note Details
The amendment strikes the underlying bill and its associated fiscal impact.
Instead, the amendment requires certain electric distribution companies, electric suppliers or generators to file for approval with Public Utilities Regulatory Authority (PURA) for a ten-year power purchase contract for a ten-year power purchase agreement with certain biomass facilities.
Contracts of this type may potentially result in electric rates above current market prices; however it is uncertain if any changes would occur in FY 19 or FY 20. If any increase in electric rates does occur, it may minimally increase costs for electricity for the state and municipalities, as ratepayers.
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.