The bill amends existing legislation to eliminate the recovery of costs associated with demand side management programs through the societal benefits charge. It specifically removes the provision that allowed electric and gas public utilities to recover costs for demand side management programs approved prior to April 30, 1997, which is reflected in the deletion of extensive language detailing the funding and analysis requirements for these programs. This change aims to streamline the funding process for energy efficiency and renewable energy initiatives by removing specific provisions related to demand side management cost recovery.

Additionally, the bill introduces new language that empowers the Board of Public Utilities to determine the appropriate funding and administration of social programs provided by electric public utilities. It clarifies that the board may fund energy efficiency and renewable energy improvements through various means, including retail margins on certain customers, while ensuring utilities can recover costs for these programs. The bill also proposes significant changes to business assistance and incentive programs by eliminating the requirement for a tax clearance certificate as a precondition for assistance, thereby streamlining the application process. It grants the director the authority to adopt regulations immediately upon filing, effective for up to 180 days, and repeals two specific sections related to demand side management programs. The bill is set to take effect immediately upon passage.

Statutes affected:
Introduced: 48:3-60, 48:3-98.1, 54:50-39