CT SB01100

Replaces subsection (k) of section 16-245 of the general statutes, effective July 1, 2023, to clarify penalties for licensees failing to comply with renewable portfolio standards.

Establishes penalty rates for renewable portfolio standard non-compliance: 5.5 cents per kilowatt hour through 2017, differentiated rates of 5.5 cents (Class I) and 2.5 cents (Class II) for 2018-2020, and 4 cents (Class I) and 2.5 cents (Class II) for 2021 onward.

Requires the Public Utilities Regulatory Authority to conduct annual uncontested proceedings to determine licensee non-compliance with renewable portfolio standards and issue decisions by December 31 each year.

Directs allocation of penalty payments to the Clean Energy Fund for Class I renewable energy development, with refunds to ratepayers through cost offsets for electric distribution company contracts as of June 5, 2013.

Specifies that Class II renewable portfolio standard penalties collected on or after January 1, 2023 shall be deposited in the sustainable materials management account, with any excess applied to reduce contract costs or congestion charges.