The bill amends the Clean and Renewable Energy and Energy Waste Reduction Act by updating the renewable energy credit portfolio requirements for electric providers. Specifically, it mandates that electric providers achieve a renewable energy credit portfolio of at least 15% through 2029, 50% from 2030 to 2034, and 60% from 2035 onward. The bill also introduces provisions for cooperative and multistate electric providers to calculate their renewable energy credit portfolio requirements based on their electricity sales and nuclear energy procurement. Additionally, it allows electric providers to substitute energy waste reduction credits for renewable energy credits under certain conditions and establishes a financial incentive for providers entering into contracts for renewable energy resources.

Furthermore, the bill adds a new section that permits electric providers to file a certification instead of the usual filings with the commission to demonstrate compliance with renewable energy and clean energy standards, provided they generate electricity from a coal replacement engine and maintain a renewable energy credit portfolio of at least 15%. However, regulated electric providers must still file an integrated resource plan detailing their load obligations and compliance strategies. The bill also includes provisions for extensions of renewable energy credit portfolio deadlines under specific circumstances and requires the commission to notify legislative leaders when such extensions are granted.

Statutes affected:
Substitute (H-1): 460.1028
Substitute (H-3): 460.1028
House Introduced Bill: 460.1028
As Passed by the House: 460.1028