This bill amends RSA 374-G to expand the scope of electric utility investments to include natural gas, hydrogen, and nuclear technologies, with the goal of enhancing grid reliability. It allows electric utilities to own or invest in these resources up to 10% of their peak load and seek rate recovery for such investments. The bill also repeals previous limitations on utility-funded generation equipment and investment restrictions, thereby providing greater flexibility in energy resource management. Key insertions emphasize the need for reliable, dispatchable, and controllable power generation alongside renewable sources, while modifications to existing provisions enable utilities to pursue rate recovery for investments in natural gas and nuclear energy resources, contingent upon a public interest assessment by the Public Utilities Commission.

Furthermore, the bill proposes the addition of two new positions within the Commission—a full-time Utility Analyst and a full-time Attorney IV—starting in FY 2027, with estimated costs of $127,000 in FY 2027, $133,000 in FY 2028, and $140,000 in FY 2029, funded through the Utility Assessment under RSA 363-A. The staffing increase is deemed necessary due to current attorney levels being at or near full capacity. The bill also expands the types of utility investments eligible for rate recovery, which may have fiscal implications depending on future utility construction in New Hampshire. However, the Department of Revenue Administration cannot estimate the exact fiscal impact due to uncertainties regarding the timing and extent of these investments. The repeal of RSA 374-G:3, V and RSA 374-G:4, III is included, but the Department asserts that this will not affect state revenues.

Statutes affected:
Introduced: 374-G:1
As Amended by the House: 374-G:1
As Amended by the Senate: 374-G:1
Version adopted by both bodies: 374-G:1
HB1775 text: 374-G:1