HB 550 Summary

• Amends the definition of "renewable portfolio standard" to measure the percentage of electrical energy generation rather than sales that comes from renewable sources.

• Changes renewable portfolio standard targets to apply to electrical energy generation for all milestones from 40% by 2030 through 100% by 2045 (previously referenced net electricity sales).

• Addresses calculation discrepancies that overestimate renewable energy by excluding customer-sited, grid-connected generation and not accounting for energy losses between generation and customer meters.

• Makes technical amendments to Section 269-92 including changing language from "due to" to "because of" and "outside of" to "beyond" in provisions regarding utility compliance and force majeure events.

• Takes effect on July 1, 2100 (note: unusually distant effective date, likely a drafting notation rather than intended implementation date).