The bill amends Section 39-2-1.2 of the General Laws in Chapter 39-2, which pertains to the duties of utilities and carriers. It introduces new legal language regarding "Utility base rate Advertising, demand-side management, and renewables." The bill extends the duration of the renewable energy fund until December 31, 2033, aligning it with Rhode Island's goal of achieving 100% renewable electricity demand and complying with federal grant requirements.

The bill specifies that electric distribution companies must maintain separate accounts for demand-side management and renewable energy programs. It also outlines the responsibilities of the Rhode Island commerce corporation in administering these renewable energy programs and establishes a framework for the allocation of funds for energy efficiency and resource management. Additionally, the bill allows for the potential involvement of third-party administrators in managing statewide energy efficiency programs, contingent upon evaluations of their effectiveness.

The legislation emphasizes transparency and accountability in the management of funds and requires annual reporting to state officials on the performance and financial aspects of demand-side management programs. Overall, the bill aims to enhance the efficiency and sustainability of energy resources in Rhode Island while ensuring that costs are fairly distributed among consumers. This act would take effect upon passage.

Statutes affected:
5485: 39-2-1.2