The bill aims to enhance the generation of electricity from renewable energy resources in Alaska by establishing a renewable portfolio standard (RPS) and modifying existing regulations related to electric utilities. Key provisions include the requirement for electric reliability organizations to include options for meeting the RPS in their integrated resource plans, and for public utilities to ensure that new large energy facilities do not hinder their ability to meet the RPS. The bill introduces a new section that mandates load-serving entities to include a specific percentage of electricity generated from renewable resources in their portfolios—40% by December 31, 2030, and 55% by December 31, 2035.

Additionally, the bill outlines compliance incentives for load-serving entities, including the ability to multiply the megawatt hours from wind energy projects and distributed energy systems to help meet the RPS. It also establishes penalties for noncompliance, which can be waived under certain conditions, and defines various terms related to renewable energy resources and credits. The bill further amends the calculation of power cost equalization to exclude revenues from renewable electricity credits, ensuring that the focus remains on supporting the transition to renewable energy. The act is set to take effect on July 1, 2025.

Statutes affected:
SB0149A, AM SB 149, introduced 03/28/2025: 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, 42.05.735, 42.05.790, 42.45.110