The bill aims to enhance the generation of electricity from renewable energy resources in Alaska by establishing a renewable portfolio standard and modifying existing regulations related to electric utilities. Key amendments include the requirement for electric reliability organizations to incorporate options for meeting the renewable portfolio standard in their integrated resource plans. Additionally, public utilities must ensure that any large energy facilities they construct do not hinder their ability to meet this standard. The bill also introduces compliance incentives for load-serving entities, allowing them to meet the renewable portfolio standard through various means, including renewable electricity credits and energy produced by distributed energy systems.

Furthermore, the bill outlines specific percentages for renewable energy generation, mandating that load-serving entities achieve 40% by December 31, 2030, and 55% by December 31, 2035. It establishes penalties for noncompliance, including fines that adjust annually based on the Consumer Price Index, while also providing conditions under which these fines may be waived. The legislation also clarifies definitions related to renewable energy resources and outlines the costs considered for power cost equalization, excluding certain revenues. The act is set to take effect on July 1, 2025.

Statutes affected:
HB0153A, AM HB 153, introduced 03/24/2025: 42.05.780, 42.05.900, 42.05.785, 42.05.711, 42.05.925, 42.05.760, 42.05.905, 42.05.910, 42.05.915, 42.45.100, 42.45.150, 42.05.920, 42.05.790, 42.45.110