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1 New Chapter; Reliability Indexing Credit Pilot Program. Amend RSA by inserting after chapter 374-H the following new chapter:
CHAPTER 374-I
RELIABILITY INDEXING CREDIT PILOT PROGRAM
374-I:1 Definitions. In this chapter:
I. "Energy storage" means energy storage as defined in RSA 374-H:1.
II. "Qualified energy storage resource" means an energy storage resource located in New Hampshire, which is expected to provide reliability value to the system by participating in the wholesale market.
III. "Reliability indexing credit" means the record that identifies and represents each megawatt-hour of capacity available from a qualified energy storage resource each day.
IV. "Reliability indexing credit reference price" means an approximation of the wholesale market revenues available for each megawatt-hour of capacity from an energy storage resource each day.
V. "Strike price" means the contract price for reliability indexing credits from a contracted qualified energy storage resource.
VI. "Reliability indexing credit pilot program" means a program for the procurement of reliability indexing credits in which payment for reliability indexing credits produced by qualified energy storage resources would be the difference between the competitively bid strike price and the reliability indexing credit reference price, calculated each day. On days for which the strike price exceeds the reliability indexing credit reference price, the contract would result in payment to the energy storage resource. On days for which the reliability indexing credit reference price exceeds the strike price, the contract would result in a charge to the energy storage resource.
2 New Section; Reliability Indexing Credit Pilot Program. Amend RSA 374-I:2 by inserting after section 15 the following new section:
362-F:16 Reliability Indexing Credit Pilot Program.
I. The public utilities commission shall authorize the state electric distribution utilities to enter into multi-year agreements with qualified energy storage resources to undertake a reliability indexing credit pilot program for up to 200 megawatts of energy storage and shall authorize the utilities to recover the costs associated with those agreements through an appropriate rate mechanism if it finds such agreements to be just and reasonable and in the public interest..
II. The department of energy shall develop recommended terms and conditions of the reliability indexing credit pilot program through an investigation which shall be completed by December 1, 2025. Upon the completion of the investigation, but no later than February 1, 2026, the state electric distribution utilities shall petition the public utilities commission to undertake the reliability indexing credit pilot program with the recommended terms and conditions specified by the department of energy and to seek rate recovery for the costs associated with those agreements.
3 Effective Date. This act shall take effect 60 days after its passage.
Text to be added highlighted in green.
1 New Chapter; Reliability Indexing Credit Pilot Program. Amend RSA by inserting after chapter 374-H the following new chapter:
CHAPTER 374-I
RELIABILITY INDEXING CREDIT PILOT PROGRAM
374-I:1 Definitions. In this chapter:
I. "Energy storage" means energy storage as defined in RSA 374-H:1.
II. "Qualified energy storage resource" means an energy storage resource located in New Hampshire, which is expected to provide reliability value to the system by participating in the wholesale market.
III. "Reliability indexing credit" means the record that identifies and represents each megawatt-hour of capacity available from a qualified energy storage resource each day.
IV. "Reliability indexing credit reference price" means an approximation of the wholesale market revenues available for each megawatt-hour of capacity from an energy storage resource each day.
V. "Strike price" means the contract price for reliability indexing credits from a contracted qualified energy storage resource.
VI. "Reliability indexing credit pilot program" means a program for the procurement of reliability indexing credits in which payment for reliability indexing credits produced by qualified energy storage resources would be the difference between the competitively bid strike price and the reliability indexing credit reference price, calculated each day. On days for which the strike price exceeds the reliability indexing credit reference price, the contract would result in payment to the energy storage resource. On days for which the reliability indexing credit reference price exceeds the strike price, the contract would result in a charge to the energy storage resource.
2 New Section; Reliability Indexing Credit Pilot Program. Amend RSA 374-I:2 by inserting after section 15 the following new section:
362-F:16 Reliability Indexing Credit Pilot Program.
I. The public utilities commission shall authorize the state electric distribution utilities to enter into multi-year agreements with qualified energy storage resources to undertake a reliability indexing credit pilot program for up to 200 megawatts of energy storage and shall authorize the utilities to recover the costs associated with those agreements through an appropriate rate mechanism if it finds such agreements to be just and reasonable and in the public interest..
II. The department of energy shall develop recommended terms and conditions of the reliability indexing credit pilot program through an investigation which shall be completed by December 1, 2025. Upon the completion of the investigation, but no later than February 1, 2026, the state electric distribution utilities shall petition the public utilities commission to undertake the reliability indexing credit pilot program with the recommended terms and conditions specified by the department of energy and to seek rate recovery for the costs associated with those agreements.
3 Effective Date. This act shall take effect 60 days after its passage.