This bill establishes a new chapter, Chapter 374-I, titled the Reliability Indexing Credit Pilot Program, which aims to create a framework for procuring reliability indexing credits from qualified energy storage resources in New Hampshire. Key definitions are introduced, including "energy storage," "qualified energy storage resource," "reliability indexing credit," and "strike price." The program will allow the public utilities commission to authorize state electric distribution utilities to enter into multi-year agreements with these resources, facilitating the procurement of reliability indexing credits based on a daily calculation of the difference between the strike price and the reliability indexing credit reference price.

Additionally, the bill mandates the Department of Energy to develop recommended terms and conditions for the pilot program, with an investigation to be completed by December 1, 2025. Following this, the electric distribution utilities must petition the public utilities commission by February 1, 2026, to implement the program and seek cost recovery through an appropriate rate mechanism. The bill also outlines that the costs associated with the investigation will be assessed to electric distribution utilities, with an estimated expenditure exceeding $100,000. The act will take effect 60 days after its passage.

Statutes affected:
Introduced: 374-I:2