HB 1371 Summary

• Amends section 366.91 of Florida Statutes to modify payment requirements for renewable energy purchase contracts offered by public utilities.

• Changes payment provisions from being based on a utility's "full avoided costs" to instead being based on the utility's "equivalent cost-recovery rate for projects constructed pursuant to s. 366.92(4)".

• Maintains existing requirements that public utilities must continuously offer purchase contracts to renewable energy producers with minimum contract terms of at least 10 years.

• Preserves the exemption from capacity payment requirements when a renewable energy generator is unlikely to provide capacity value based on operational characteristics or anticipated availability.

• Takes effect July 1, 2010.