ME LD597

Requires the Maine Public Utilities Commission to conduct competitive solicitations for energy or renewable energy credits equal to 5% of 2021 retail electricity sales from Class IA renewable resources, with the first solicitation to begin within 30 days of the law's effective date

Creates a new procurement program for existing Class IA renewable resources (operating before June 30, 2019) equal to 5% of 2023 retail electricity sales, with solicitation required by December 31, 2025 and contracts typically lasting 10 years

Mandates that energy contracts include negative pricing provisions requiring payment reductions to generators during negative price intervals, protecting ratepayers from stranded costs

Establishes that contracts may only be approved if the commission determines benefits to ratepayers are more likely than not to exceed costs, with preference given to projects on contaminated land and those minimizing use of farmland and forested land

Enacted as emergency legislation on June 20, 2025 to protect rural forest products industry jobs and ensure timely grid interconnection