This bill eliminates the limited time period that previously applied to the directive to assign forward capacity market payments exclusively for heat pumps and adds electric vehicles as an additional eligible use of the forward capacity market funds, while leaving in place the authorization for these funds to be used for heat pumps as well. The bill also updates language regarding the allowable use of forward capacity market funds to promote beneficial electrification, to supplement incentives that support beneficial electrification measures and to reliably reduce electricity rates.

Statutes affected:
Bill Text LD 585, SP 268: 35-A.10103