CT SB01560

Creates the Connecticut Energy Procurement Authority, a 7-member board effective July 1, 2025, to coordinate electricity procurement strategy, develop time-of-use rate structures, and manage grid infrastructure investment with the goal of reducing electric costs for ratepayers

Establishes mandatory time-of-use electricity rates for residential and commercial customers by January 1, 2027, with on-peak rates (4-7 PM weekdays) required to be at least 300% higher than off-peak rates to encourage load shifting

Requires electric distribution companies to deploy advanced smart meters by January 1, 2027, to enable time-of-use billing and customer access to real-time energy usage data

Creates the Green Bond Fund (replacing the systems benefits charge) with annual expenditures capped at $800 million to fund energy efficiency programs, hardship protections, federally mandated congestion charges, and renewable energy investments, supported by up to $2.4 billion in state bond authorization

Establishes the Energy Infrastructure Transition Fund funded by a 7 mills per kilowatt-hour charge to support smart meter deployment, EV charging infrastructure, heat pump conversions, and battery storage installations