The proposed bill aims to enhance energy policy in Minnesota by establishing a budget for various energy initiatives, including geothermal and solar energy, and authorizing natural gas utilities to issue extraordinary event bonds under specific conditions. It includes appropriations for fiscal years 2026 and 2027, detailing funding for programs such as weatherization assistance, community solar gardens, and energy benchmarking. The bill also amends Minnesota Statutes to define "low-income" households for energy assistance programs, enhance affordability programs, and mandates public utilities to implement measures ensuring affordable energy access for low-income residents. Additionally, it introduces a framework for the issuance of extraordinary event bonds to finance costs associated with unforeseen events, establishing definitions and processes for utilities to apply for financing orders from the commission.

Furthermore, the bill outlines the conditions for issuing extraordinary event bonds, including credit rating requirements and the nonbypassable nature of the extraordinary event charge imposed on customers. It mandates that the commission review and enforce compliance with financing orders to protect customer interests. The legislation also details the treatment of extraordinary event property, ensuring that utilities can manage and finance these costs effectively while maintaining accountability and transparency. Overall, the bill seeks to promote renewable energy development, improve energy affordability for vulnerable populations, and provide utilities with a structured approach to manage extraordinary costs.

Statutes affected:
Introduction: 47.60, 47.601, 80A.58, 80A.65, 62E.21, 62E.23, 62E.24, 62E.25, 116C.7792, 216C.09, 216C.10, 216C.11, 216C.12, 216C.391, 342.17, 342.37
1st Unofficial Engrossment: 116C.7792, 216B.16, 216B.1641, 216B.2402, 216B.2421, 216C.09, 216C.10, 216C.11, 216C.12, 216C.391, 216C.47, 216B.62