The proposed legislation, General Assembly Raised Bill No. 7016, aims to enhance energy capital improvements in Connecticut by allowing third-party developers to participate in various energy programs. Specifically, it repeals and replaces existing provisions in Section 16-244dd, enabling the Public Utilities Regulatory Authority to select appropriate entities, including the Connecticut Green Bank and the Department of Energy and Environmental Protection, to implement any ratepayer-funded clean energy, renewable energy, or electric grid modernization programs. Additionally, Section 16-244z is amended to allow the same entities to conduct solicitations for programs established under this section.

Furthermore, the bill introduces a new section that authorizes the State Bond Commission to issue bonds for a municipal electric grid modernization program, which will provide grants to municipalities operating their own electric utilities for infrastructure modernization. Municipalities can apply for these grants through the Office of Policy and Management, which may set additional requirements. The bonds issued will be general obligations of the state, ensuring that the full faith and credit of Connecticut backs their repayment. The act is set to take effect on July 1, 2025.

Statutes affected:
Raised Bill: 16-244dd, 16-244z