1 Electric Utility Restructuring; Benefits for All Consumers. RSA 374-F:3, VI is repealed and reenacted to read as follows:

VI. Utility Ownership of Generation. Utilities shall not own or operate generation facilities or control generation capacity, except as provided in subparagraphs (a) and (b):

(a) A utility may continue to own generating facilities or power supply resources that were in operation on January 1, 1996, to the extent previously authorized by the commission for purposes of system reliability or recovery of stranded costs during the transition to a competitive market.

(b) An electric distribution utility may, with the approval of the public utilities commission, own, build, or operate electric generation facilities located in New Hampshire, subject to the following conditions:

(1) No single facility shall exceed a nameplate capacity of 400 megawatts.

(2) The commission shall approve such ownership or construction only upon a finding that it serves the public interest and provides benefits to ratepayers and taxpayers.

(3) The commission may authorize long-term power purchase or sale agreements related to such facilities, for terms not exceeding 20 years.

(4) The utility shall comply with all applicable state and federal permitting and environmental requirements.

2 New Paragraph; Purpose. Amend RSA 374-F:1 by inserting after paragraph III the following new paragraph:

IV. It is hereby declared to be the policy of the state of New Hampshire to permit limited reentry by electric utilities into the generation market, under the oversight of the public utilities commission, when such action demonstrably serves the long-term interests of ratepayers and taxpayers, ensures energy reliability, and supports the state's economic vitality.

3 Effective Date. This act shall take effect 60 days after its passage.

1 Electric Utility Restructuring; Benefits for All Consumers. RSA 374-F:3, VI is repealed and reenacted to read as follows:

VI. Utility Ownership of Generation. Utilities shall not own or operate generation facilities or control generation capacity, except as provided in subparagraphs (a) and (b):

(a) A utility may continue to own generating facilities or power supply resources that were in operation on January 1, 1996, to the extent previously authorized by the commission for purposes of system reliability or recovery of stranded costs during the transition to a competitive market.

(b) An electric distribution utility may, with the approval of the public utilities commission, own, build, or operate electric generation facilities located in New Hampshire, subject to the following conditions:

(1) No single facility shall exceed a nameplate capacity of 400 megawatts.

(2) The commission shall approve such ownership or construction only upon a finding that it serves the public interest and provides benefits to ratepayers and taxpayers.

(3) The commission may authorize long-term power purchase or sale agreements related to such facilities, for terms not exceeding 20 years.

(4) The utility shall comply with all applicable state and federal permitting and environmental requirements.

2 New Paragraph; Purpose. Amend RSA 374-F:1 by inserting after paragraph III the following new paragraph:

IV. It is hereby declared to be the policy of the state of New Hampshire to permit limited reentry by electric utilities into the generation market, under the oversight of the public utilities commission, when such action demonstrably serves the long-term interests of ratepayers and taxpayers, ensures energy reliability, and supports the state's economic vitality.

3 Effective Date. This act shall take effect 60 days after its passage.