This bill amends RSA 374-F:3, V(e) to clarify the process of cost reconciliation for competitive electricity supply within default service rates. It specifies that any adjustments for over- or underpayment, referred to as a "true up," resulting from a utility procuring supply in competitive markets must be addressed through future changes to the default service rate. Importantly, the bill stipulates that no true-up shall be collected as a nonbypassable charge, ensuring that customers who opt out of default service are not held responsible for these costs.

The bill aims to protect customers from unexpected charges while promoting the development of competitive electricity markets. By establishing that cost reconciliations must occur within the default service rates and cannot be passed on to customers who leave default service, the legislation seeks to minimize customer risk and mitigate price volatility. The act will take effect 60 days after its passage.

Statutes affected:
Introduced: 374-F:3
HB1733 text: 374-F:3