H.F. No. 7 - Energy Finance and Policy Bill Summary

• Appropriates $25.97 billion in general fund and renewable development account money over fiscal years 2026-2027 to the Department of Commerce and Public Utilities Commission for energy and renewable development programs

• Authorizes natural gas utilities to issue "extraordinary event bonds" secured by nonbypassable customer charges to finance recovery costs from catastrophic events (storms, cyberattacks, price spikes), with bonds rated AA/Aa2 or higher and maturity up to 30 years

• Modifies energy policy including solar production incentives (extending timeline to 2038), transmission cost recovery mechanisms, low-income rate discounts ($8 million annually), and affordability programs for natural gas customers

• Expands interconnection standards requiring cost-sharing for grid upgrades among distributed generation facilities, with utility costs allocated on a pro-rata basis

• Modernizes energy programs including weatherization assistance ($20 million+), electric vehicle rebates ($5 million), heat pump programs ($6 million), and grid resilience initiatives, with enhanced outreach and clean energy education requirements