HB 1238 – AS INTRODUCED
2012 SESSION
09/01
HOUSE BILL 1238
AN ACT relative to divestiture of Public Service of New Hampshire (PSNH) generation assets.
SPONSORS: Rep. Holden, Hills 4; Rep. Ohm, Hills 26
COMMITTEE: Science, Technology and Energy
This bill requires Public Service of New Hampshire (PSNH) to divest its fossil, hydro, and biomass generation assets by December 1, 2013.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
12-2534
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twelve
AN ACT relative to divestiture of Public Service of New Hampshire (PSNH) generation assets.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Divestiture of PSNH Generation Assets. Amend RSA 369-B:3-a to read as follows:
369-B:3-a Divestiture of PSNH Generation Assets. [The sale of PSNH fossil and hydro generation assets shall not take place before April 30, 2006.]
I. Notwithstanding RSA 374:30, [subsequent to April 30, 2006,] PSNH [may] shall divest its fossil, hydro, and biomass generation assets [if the commission finds that it is in the economic interest of retail customers of PSNH to do so, and provides] by December 31, 2013. The commission shall provide for the cost recovery of such divestiture. Prior to any divestiture of its generation assets, PSNH may modify or retire such generation assets if the commission finds that it is in the public interest of retail customers of PSNH to do so, and provides for the cost recovery of such modification or retirement.
II. PSNH shall submit to the commission by October 15, 2012 a plan for the divestiture of the generation assets. The plan shall provide for an open and fair process for buyers to compete for the purchase of the assets. The plan shall require the approval or conditional approval of the commission. The plan shall not address issues of cost recovery or the application of sales revenues.
2 Restructuring Policy Principles; Regulation and Unbundling of Services and Rates. Amend RSA 374-F:3, III to read as follows:
III. Regulation and Unbundling of Services and Rates. When customer choice is introduced, services and rates should be unbundled to provide customers clear price information on the cost components of generation, transmission, distribution, and any other ancillary charges. Generation services should be subject to market competition and minimal economic regulation and [at least functionally] separated from transmission and distribution services which should remain regulated for the foreseeable future. However, distribution service companies should not be absolutely precluded from owning small scale distributed generation resources as part of a strategy for minimizing transmission and distribution costs. Performance based or incentive regulation should be considered for transmission and distribution services. Upward revaluation of transmission and distribution assets is not a preferred mechanism as part of restructuring. Retail electricity suppliers who do not own transmission and distribution facilities, should, at a minimum, be registered with the commission.
3 Effective Date. This act shall take effect 60 days after its passage.