This bill allows electric distribution utilities in New Hampshire to enter into long-term agreements (up to 30 years) with developers of New England transmission projects that have been awarded grants or contracts by the U.S. Department of Energy. These agreements, which are capped at a total of 120 megawatts of transmission capacity and must be proportional to each utility's kWh sales, are subject to approval by the public utilities commission for cost recovery through retail rates. Utilities are required to review proposals within three months and can recover costs incurred during the solicitation and negotiation process. The public utilities commission will ensure that the agreements are fair and beneficial to the public, taking into account factors such as ratepayer benefits, price stability, and improved system reliability. The bill's fiscal note indicates an indeterminate impact on government electricity expenditures and a potential need for additional commission staff at an estimated cost of $605,000 annually starting in FY 2025. The bill would take effect upon passage.

The bill's focus is on evaluating the potential for reduced electricity prices due to the additional energy supplied by a new transmission line in New England. The savings for consumers would be calculated by comparing energy prices with and without the new transmission line, considering various factors such as generator retirements, new energy resources, transmission upgrades, energy prices in Quebec, weather patterns, energy demand growth, energy efficiency and technology advancements, wholesale market rule changes, and federal policy mandates. The bill does not mention specific insertions or deletions to current law. The Office of the Consumer Advocate believes it can manage related proceedings within its existing workload, and any fiscal impacts are expected to occur after FY 2024. Input on the bill was sought from the Department of Energy, Public Utilities Commission, and Office of the Consumer Advocate.