HB 252 – AS INTRODUCED
2015 SESSION
06/10
HOUSE BILL 252
AN ACT relative to the divestiture of electrical generation facilities.
SPONSORS: Rep. Hoell, Merr 23; Rep. Itse, Rock 10; Rep. Martin, Merr 23; Rep. Kuch, Merr 23
COMMITTEE: Science, Technology and Energy
This bill provides that no generating assets owned by electric utilities regulated by the public utilities commission may be divested until default service prices meet certain criteria.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
15-0285
06/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Fifteen
AN ACT relative to the divestiture of electrical generation facilities.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Purpose. The New England region is experiencing extreme cost increases and volatility in its supply of fuels including electricity, natural gas, propane, oil, and wood. It is in the public interest to take all short-term measures available to ensure that citizens of the state have access to necessary energy sources at reasonable prices. One of the short-term measures available is to retain all existing electric generating assets that fall within the jurisdiction of the public utilities commission.
2 Public Utilities; Divestiture of PSNH Generation Assets. Amend RSA 369-B:3-a to read as follows:
I. [Before January 1, 2015, the commission shall commence and expedite a proceeding to determine whether all or some of PSNH’s generation assets should be divested. On or before March 31, 2015, the commission shall submit a progress report to the legislative oversight committee on electric utility restructuring established under RSA 374-F:5.] Unless and until there are adequate supplies of electric generation within New England to ensure a reliable source of electricity, such that default service prices for electricity provided by all electric utilities regulated by the public utilities commission do not vary more than 10 percent on a seasonal basis, no existing generating assets owned by such electric utilities may be divested. Upon a finding by the public utilities commission that adequate supplies of electric generation exist within New England, as demonstrated by 2 consecutive years where default service prices for electricity provided by all electric utilities regulated by the public utilities commission have not varied by more than 10 percent on a seasonal basis, the commission may initiate a proceeding to determine whether all or some of the generating assets owned by the state’s regulated electric utilities should be divested. Notwithstanding RSA 374:30, the commission may at such time order [PSNH to divest] the divestiture of all or some of [its] such generation assets if the commission finds that it is in the [economic] public interest of [retail customers of PSNH] the citizens of New Hampshire to do so, and provides for the cost recovery of such divestiture.
II. 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 [economic]public interest of retail customers of PSNH to do so, and provides for the cost recovery of such modification or retirement.
3 Effective Date. This act shall take effect 60 days after its passage.