The bill amends Section 39-26.4-2 of the General Laws in Chapter 39-26.4, titled "Net Metering," to introduce new definitions and clarify existing terms related to net metering systems. The bill modifies the definition of "excess renewable net-metering credit" to replace the reference to the electric distribution company's avoided cost rate with a "wholesale rate," which will be used for billing these credits.

Additionally, the bill clarifies that a third party involved in financing arrangements for net-metering systems with public or private entities is not classified as a public utility, as defined in 39-1-2. The new billing structure for excess renewable net-metering credits establishes that these credits will be billed at the wholesale rate instead of the avoided cost rate. The act is set to take effect immediately upon passage.

Statutes affected:
5819: 39-26.4-2