MN HF2650

Prairie Island nuclear plant owner must transfer $500,000 annually per dry cask containing spent fuel to renewable development account while operating, and $7,500,000 annually if ordered by commission after shutdown.

Monticello nuclear plant owner must transfer $350,000 annually per dry cask containing spent fuel while operating, and $5,250,000 annually if ordered by commission after shutdown.

Account funds may be expended for increasing renewable energy market penetration, promoting renewable energy projects and companies, stimulating renewable energy research and development, and developing near-commercial renewable energy and efficiency projects.

Public utility managing the account must consult with an advisory group including ratepayers and use independent third-party experts to evaluate proposals, with Public Utilities Commission approval required for expenditures.

Public utility must annually report to legislative energy committees by February 15 on funded projects with financial benefits to ratepayers, and all funded projects must produce written reports posted online acknowledging Minnesota renewable development fund financing.