HB 246-FN - AS INTRODUCED
2023 SESSION
23-0483
10/05
HOUSE BILL 246-FN
AN ACT relative to uses of moneys in the renewable energy fund.
SPONSORS: Rep. Notter, Hills. 12; Rep. D. Thomas, Rock. 16; Rep. Spillane, Rock. 2
COMMITTEE: Science, Technology and Energy
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ANALYSIS
This bill provides that all moneys in the renewable energy fund derived from renewable energy certificates shall be used to reduce ratepayer costs via a public utilities commission approved reduction in electric rates.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
23-0483
10/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Three
AN ACT relative to uses of moneys in the renewable energy fund.
Be it Enacted by the Senate and House of Representatives in General Court convened:
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. 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.] reduce ratepayer costs via a public utilities commission approved reduction in electric rates.
2 Repeal. RSA 362-F:10, V through XI, relative to department of energy administration of expenditures from the renewable energy fund, are repealed.
3 Effective Date. This act shall take effect July 1, 2023.
23-0483
12/21/22
HB 246-FN- FISCAL NOTE
AS INTRODUCED
AN ACT relative to uses of moneys in the renewable energy fund.
FISCAL IMPACT: [ ] State [ X ] County [ X ] Local [ ] None
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COUNTY: |
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Revenue | $0 | Indeterminable Decrease | Indeterminable Decrease | Indeterminable Decrease |
Expenditures | $0 | Indeterminable | Indeterminable | Indeterminable |
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LOCAL: |
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Revenue | $0 | Indeterminable Decrease | Indeterminable Decrease | Indeterminable Decrease |
Expenditures | $0 | Indeterminable | Indeterminable | Indeterminable |
METHODOLOGY:
This bill provides that all moneys in the renewable energy fund derived from renewable energy certificates shall be used to reduce ratepayer costs via a public utilities commission approved reduction in electric rates.
The Department of Energy states this bill would have no impact on State revenue. The amount of revenue deposited into the Renewable Energy Fund varies from year to year, ranging from a high of $19.12 million in 2011 to a low of $1.35 million in 2009. In the last five years it has averaged $4.6 million per year. The bill would not change the amount of revenue, but change how it is allocated.
The Department indicates county and local governments would see their revenues decline as grants from Renewable Energy Fund would no longer be available. Under current law, counties and local units of government have received grants from the Renewable Energy Fund. With no grants available, there would be a decrease in county and local expenditures for energy programs. County and local expenditures for electricity would also decline as all funds would be used to reduce rates. The net impact on county and local expenditures is indeterminable.
With all revenue deposited into the Renewable Energy Fund rebated back to ratepayers, funding for grant programs would no longer be available. In addition, the Department would no longer have funds to administer the rest of the law. Administration includes: ensuring that electric distribution utilities and competitive energy suppliers are complying with the requirements of the law, and verifying that renewable energy facilities are eligible to produce renewable energy credits are complying with the law. The reduction in grant funds would be offset by the increase in rebates to ratepayers. As proposed, the bill would not change state expenditures from the fund but change how it is expended.
AGENCIES CONTACTED:
Department of Energy