This bill amends existing legislation to prohibit electric and gas public utilities from implementing rate adjustment mechanisms that would allow them to recover lost revenue due to decreased energy usage resulting from customer participation in energy efficiency, peak demand reduction, conservation, or renewable energy programs. Specifically, the bill states that utilities shall not be eligible for incentives that provide additional revenue to account for this lost revenue. This change aims to ensure that consumers who actively reduce their energy consumption through various conservation measures do not face increased costs that negate their savings.

The bill also outlines the responsibilities of the Board of Public Utilities, which must establish energy savings targets, adopt performance indicators, and approve energy efficiency programs for utilities. It emphasizes the need for utilities to demonstrate compliance with these targets and outlines the process for cost recovery related to energy efficiency programs. The intent behind these amendments is to shift the focus of the Board towards consumer interests, ensuring that ratepayers are not penalized for efforts to conserve energy and reduce their utility bills.

Statutes affected:
Introduced: 48:3-87.9, 48:3-98.1