LD 1434, Page 6 - 122th Legislature, FIRST REGULAR Session

effective hedging strategy and provide a competitively priced

supply option. The commission may enter into or require standard-

offer providers chosen by a competitive bidding process to enter

into contracts with appropriate terms in order to achieve the

purposes of this subsection consistent with the legislative

findings established in chapter 34 and rules adopted pursuant to

this subsection. For purposes of this subsection, "renewable

resources" has the same meaning as "Tier 1 renewable resource" in

section 3210, subsection 2, paragraph C. Rules adopted pursuant to

this subsection are major substantive rules, as defined in Title 5,

chapter 375, subchapter 2-A, and must be submitted to the

Legislature for review by March 1, 2005.

SUMMARY

This bill amends the eligible resource portfolio requirement
for competitive electricity providers. The bill does the
following.

1. It modifies the current portfolio requirement by
disqualifying a generator that sells its electrical output to a
transmission and distribution utility.

2. It establishes a "Tier 2 Requirement," which requires that
a certain percentage of a competitive electricity provider's
portfolio be supplied by one of the following: generators built
after January 1, 2005 that use certain renewable resources;
hydroelectric generators that install adequate fish passage
systems after January 1, 2005; or biomass generators that burn
biomass harvested using sustainable forest management practices
and that meet certain emission standards. The requirement is
initially 2% and increases by 0.5% each year until it reaches 7%.
A generator that sells its electrical output to a transmission
and distribution utility is not qualified to meet this
requirement.

3. It requires that any resource used to satisfy the
portfolio requirements be scheduled for delivery and delivered to
the New England Power Pool region or to the Maritimes Control
Area.

4. It authorizes the Public Utilities Commission to allow the
portfolio requirements to be met through the use of renewable
credits.

5. It allows the portfolio requirements to be satisfied
through alternative compliance payments.

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