Revision: Feb. 9, 2023, 4:17 p.m.
Rep. Notter, Hills. 12
February 2, 2023
2023-0288h
10/05
Amendment to HB 246-FN
Amend the bill by replacing all after the enacting clause with the following:
1 Renewable Energy Fund; Use of Funds. Amend RSA 362-F:10, I to read as follows:
I. There is hereby established a renewable energy fund. This nonlapsing special fund shall be continually appropriated to the department of energy to be expended in accordance with this section; provided that at the start of the period in which there is no adopted state operating budget, the department of energy shall in a timely manner seek the approval of the fiscal committee of the general court to continue using moneys from the renewable energy fund to support renewable energy rebate and grant programs in order to ensure there are no interruptions to the programs. The state treasurer shall invest the moneys deposited therein as provided by law. Income received on investments made by the state treasurer shall also be credited to the fund. All payments to be made under this section shall be deposited in the fund.
(a) For the period of July 1, 2023 through June 30, 2025, notwithstanding paragraphs V through XI, any remaining moneys paid into the fund under paragraph II of this section shall be used by the department of energy to reduce ratepayer costs via a public utilities commission approved reduction in electric rates.
(b) Commencing July 1, 2025, any remaining moneys paid into the fund under paragraph II of this section, excluding class II moneys, shall be used by the department of energy to support thermal and electrical renewable energy initiatives. Class II moneys shall primarily be used to support solar energy technologies in New Hampshire. All initiatives supported out of these funds shall be subject to audit by the department of energy as deemed necessary. All fund moneys including those from class II may be used to administer this chapter, but all new employee positions shall be approved by the fiscal committee of the general court. No new employees shall be hired by the department of energy due to the inclusion of useful thermal energy in class I production.
2 Public Utilities Commission; Proceedings on Use of Renewable Energy Fund. Within 60 days after the effective date of this act, the public utilities commission shall open a docket to determine how the moneys in the renewable energy fund under RSA 362-F:10, as amended by this act, will be distributed to ratepayers. The public utilities commission shall complete its action on such docket within 60 days after the date the docket was opened.
3 Effective Date. This act shall take effect July 1, 2023.
2023-0288h
AMENDED ANALYSIS
This bill provides that for a 2-year period all moneys in the renewable energy fund derived from renewable energy certificates shall be used to reduce ratepayer costs, and requires the public utilities commission to open a docket to determine how renewable energy fund moneys will be distributed to ratepayers.