HB 6466 Summary

• Establishes escalating renewable energy credit standards for electric providers, reaching 100% by 2050, with intermediate targets of 12.5% (2019-2020), 15% (2021-2024), 25% (2025-2031), 50% (2032-2039), and 75% (2040-2049).

• Requires the Public Service Commission to review and approve renewable energy plans by April 20, 2021 and every 2 years thereafter, with different approval processes for rate-regulated providers (contested case hearing), alternative suppliers, and municipal utilities.

• Establishes monthly retail rate impact caps for renewable energy compliance costs: $3.00 per residential meter, $16.58 per commercial secondary meter, and $187.50 per commercial primary/industrial meter.

• Allows the Commission to grant up to 2 one-year extensions of renewable energy deadlines for good cause, including siting limitations, equipment shortages, transmission constraints, grid reliability concerns, and labor shortages.

• Permits electric providers to substitute energy waste reduction credits for up to 10% of required renewable energy credits with Commission approval, on a one-to-one basis.