This bill allows investor-owned electric distribution utilities to issue requests for proposals (RFPs) for multi-year energy agreements, which can include or exclude environmental attributes from electric energy sources. The purpose of the bill is to address the economic burden of increased electricity costs in New Hampshire by developing reliable, low-cost electricity supply sources to stabilize and reduce costs. The bill acknowledges that market volatility is harming residents and businesses and aims to provide more diverse and long-term energy service options.

Key provisions include allowing utilities to issue RFPs alone or in conjunction with other utilities, subject to consultation with the Department of Energy and the Office of the Consumer Advocate, and requiring approval by the Public Utilities Commission. Costs associated with transmission system upgrades must be included in RFP responses. Utilities must engage an independent third party to create RFPs and perform cost-benefit analyses of agreements. Agreements cannot exceed 20 years and are capped at 2 million megawatt hours annually across all utilities. Energy procured must come from new or incremental sources that began operation or construction after September 1, 2023. Utilities can recover prudently incurred costs through distribution rates, and the Public Utilities Commission must consider whether agreements are cost-effective, support energy availability during long weather events, foster price stability, and diversify energy sources. The bill also outlines how utilities should handle the sale of purchased energy and environmental attributes to benefit ratepayers. Rural electric cooperatives may participate in solicitations but are not required to issue RFPs or seek authorization for agreements. The act takes effect on October 3, 2023.

Statutes affected:
Introduced: 362-F:9