The bill amends the process for cashing out excess kilowatt-hours for distributed generation customers in Iowa. Under the current law, any excess kilowatt-hours remaining at the end of a twelve-month period are cashed out at the electric utility's avoided cost rate, with the funds being divided between the customer and the electric utility's low-income home energy assistance program. Customers also have the option to choose a cash out date in January or April.

The proposed changes stipulate that excess kilowatt-hours will be cashed out directly to the customer upon their request or when they discontinue service with the electric utility. Additionally, any kilowatt-hour credits will remain in the customer's account to offset future bills until a cash out is requested or service is discontinued. This shift aims to provide more direct benefits to customers and streamline the cash out process.

Statutes affected:
Introduced: 476.49