HI SB2662

Amends Section 269-27.1 to require agreements for purchase of geothermal electricity must include provisions limiting electric utility curtailment or interruption to a maximum number of hours per calendar year as agreed upon by both parties.

Requires geothermal producers be compensated at the applicable energy payment rate for curtailment hours exceeding the agreed maximum, calculated as a prescribed percentage of design capacity multiplied by excess curtailment hours, except during emergencies or natural disasters.

Amends Section 269-27.2 to extend the same curtailment limitations and compensation requirements to electricity purchase agreements with nonfossil fuel source producers.

Exempts emergency situations that imminently threaten the electrical grid or result from natural or manmade disasters from compensation requirements.

Effective date: July 1, 2014.