The bill amends Section 39-1-27 of the General Laws, requiring electric distribution companies to submit restructuring plans regarding the ownership and operation of electric-generating facilities. It applies to facilities owned or operated by non-regulated power producers, domestic electric utilities, or their affiliates generating electricity on or after January 1, 2025. The bill prohibits electric distribution companies from selling electricity at retail or owning generating facilities post-restructuring, with exceptions for facilities constructed or acquired after January 1, 2025.

Additionally, the bill amends Section 39-1-27.3, requiring electric distribution companies to provide retail access and a standard offer to customers, while establishing guidelines for pricing and cost recovery associated with standard-offer service. It ensures that companies do not profit from these sales without commission approval and mandates arrangements for last-resort power supply for customers who opt out of the standard offer. The bill clarifies the definitions of electric-generating facilities and electric utilities, and includes provisions to protect customers and electric distribution companies from tax liabilities related to nonregulated power producers. Overall, the legislation aims to modernize the regulatory framework for electric utilities and enhance operational capabilities. The act would take effect upon passage.

Statutes affected:
2645: 39-1-27, 39-1-27.3