This bill mandates the Department of Energy to phase out the minimum electric renewable portfolio standard (RPS) over a five-year period, concluding by December 31, 2030. The introductory paragraph of RSA 362-F:3 is amended to include a new provision that states, "subject to the phase-out requirements of RSA 362-F:3-b," which establishes a new section (RSA 362-F:3-b) detailing the phase-out process. This section specifies that starting in 2026, the department will implement a 20% annual reduction in the minimum percentages for renewable generation, based on the requirements applicable in 2025. Additionally, electric utilities will be allowed to offer default service customers up to 100% power generated from qualified renewable resources.

The bill also includes a repeal of RSA 362-F:3, which pertains to the minimum electric renewable portfolio standards, effective December 31, 2030. The fiscal impact of this legislation is projected to result in a decrease in revenue from alternative compliance payments (ACPs) and a reduction in expenditures related to the Renewable Energy Fund. The estimated decrease in revenue is expected to be $1,174,000 in FY 2026, increasing to $5,870,000 by FY 2030, while the compliance costs for electric suppliers are anticipated to decrease significantly over the same period. Overall, the bill aims to reduce the regulatory burden on electricity providers while transitioning towards a more flexible renewable energy framework.

Statutes affected:
Introduced: 362-F:5