Amendment #1
In Section §56-577 (Definitions), after paragraph on "Related distribution service," add new paragraph:
"RENEWABLE ENERGY RESOURCES" MEANS THE FOLLOWING SOURCES OF ENERGY OR ENERGY TECHNOLOGIES: SOLAR, WIND, TIDAL, GEOTHERMAL, BIOMASS (INCLUDING WASTE-TO-ENERGY AND LANDFILL GAS RECOVERY), FUEL CELLS, AND SMALL HYDROELECTRIC FACILITIES.
Amendment #2
In Section §56-590.1 (Environment), add new section:
RENEWABLES PORTFOLIO STANDARD
(A) ON OR AFTER JANUARY 1, 2001, A REGISTERED ELECTRIC UTILITY OR ELECTRICITY SUPPLIER SHALL CERTIFY TO THE COMMISSION THAT NOT LESS THAN 2.8 PERCENT OF THE ITS TOTAL ENERGY SOLD IN THE COMMONWEALTH IS GENERATED FROM RENEWABLE ENERGY RESOURCES, RENEWABLE ENERGY CREDITS, OR A COMBINATION THEREOF.
(B) ON OR AFTER JANUARY 1, 2006, A REGISTERED ELECTRIC UTILITY OR ELECTRICITY SUPPLIER SHALL CERTIFY TO THE COMMISSION THAT NOT LESS THAN FIVE PERCENT OF THE ITS TOTAL ENERGY SOLD IN THE COMMONWEALTH IS GENERATED FROM RENEWABLE ENERGY RESOURCES, RENEWABLE ENERGY CREDITS, OR A COMBINATION THEREOF.
Amendment #3
In Section §56-591.1 (Stranded Costs), add new paragraph on QF contracts:
TRANSITION COSTS
TRANSITION OR STANDARD COSTS RELATIVE TO POWER PURCHASE CONTRACTS SHALL BE THE DIFFERENCE BETWEEN THE CONTRACT PRICE OF ELECTRIC ENERGY AND THE ESTIMATED WHOLESALE MARKET PRICE OF ELECTRIC ENERGY OVER THE LIFE OF THE CONTRACT. RECOVERED FUNDS SHALL BE EARMARKED FOR SAID CONTRACTS
EXISTING CONTRACTS
NOTHING CONTAINED HEREIN SHALL HAVE THE EFFECT OF ABROGATING OR AMENDING CONTRACTS IN FORCE ON THE EFFECTIVE DATE OF THE ACT BETWEEN ELECTRIC UTILITIES AND ANY OF THEIR CUSTOMERS OR ENERGY SUPPLIERS.