This bill aims to address the high cost of electricity supply in New Hampshire by allowing the Department of Energy and electric distribution utilities to issue requests for proposals (RFPs) for multi-year agreements for energy. The bill emphasizes the need for diverse and long-term energy options to stabilize and reduce electricity costs for residents and businesses in the state. It recognizes the challenges posed by market volatility and the retirement of baseload generation resources, as well as the lack of adequate natural gas capacity during winter months.

Key amendments to existing law include the insertion of "existing" alongside "new" and "incremental" electric energy sources in the procurement process, allowing for a broader range of energy sources to be considered. Additionally, the definition of "existing electric energy sources" is clarified to include all sources currently providing energy to the ISO-NE regional markets, specifically nuclear power facilities that began operations before January 1, 2011. The bill also removes the previous cap of "up to a total of 2 million megawatt hours" on the agreements, enabling more flexibility in energy procurement. The act is set to take effect 60 days after its passage.

Statutes affected:
Introduced: 374-F:11