CO SB022

Extends the deadline for entities to notify the state of challenges meeting the 80% greenhouse gas emissions reduction goal from March 31, 2026 to May 31, 2026, and allows entities that voluntarily submitted clean energy plans to also report challenges

Allows cooperative electric associations and municipal utilities facing challenges to submit updated clean energy plans by December 31, 2026 with a new target date of up to 2040 to achieve the 80% emissions reduction (relative to 2005 levels)

Caps rate increases at 1.5% annually—utilities can delay emissions targets if meeting them would require average annual electricity rate increases exceeding this threshold or would impair electric reliability standards

Prohibits the Air Quality Control Commission and Division of Administration from taking any action that would impair utility reliability standards or cause rate increases greater than 1.5%

Cites rising energy costs (22% increase in residential electricity over 6 years), record utility payment delinquencies, and over 136,000 applications for low-income energy assistance in fiscal year 2024-25 as justification for providing flexibility to utilities