HB3688 Summary

• Amends the Public Utilities Act to require the Illinois Commerce Commission to conduct quarterly reviews of zero emission credit prices procured by the Illinois Power Agency to ensure recovery of only unrecovered plant costs based on market sales and pricing.

• Requires the zero emission credit program to be rebid if a plant shows profit for more than one year, and authorizes the Illinois Power Agency to expand eligible zero emission generation sources for the program.

• Directs the Commission to ensure qualifying nuclear plants do not receive excessive earnings through zero emission credit compensation, with authority to revoke zero emission credit qualification from plants found to have received excessive earnings.

• Permits the Commission to initiate docketed proceedings to reconcile zero emission credit payments with allowed costs.

• Takes effect immediately or on the effective date of Public Act 99-906's amendments to Section 16-111.5, whichever is later.