This 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, funding programs such as weatherization assistance, community solar gardens, and the "Made in Minnesota" solar energy production incentive program. The bill also broadens the definition of "low-income" to improve energy assistance programs and mandates public utilities to implement measures that help low-income customers afford energy services, thereby reducing disconnections and collection costs.

Additionally, the bill introduces a framework for utilities to issue extraordinary event bonds to recover costs from unforeseen events like natural disasters. It establishes definitions for key terms related to these bonds and outlines the criteria for their issuance, including a financing order from the commission after a public hearing. The bill ensures that extraordinary event charges are nonbypassable, requiring all customers to pay them, and protects the interests of financing parties in the event of a utility's default. Overall, the legislation aims to create a structured process for financing extraordinary event costs while enhancing energy affordability and conservation efforts in the state.

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