SB 2402 Summary

• Requires the Division of Energy of the Mississippi Development Authority to approve energy services providers through a prequalification process with objective criteria, with applications automatically approved if not acted upon within 60 days.

• Establishes that energy services providers must have documented energy savings projects, technical capabilities to verify cost savings, ability to guarantee savings, and capacity to secure project financing.

• Mandates entities entering energy performance contracts or shared-savings contracts report to the Division biannually (March 1 and September 1) on energy usage by meter in dollars and consumption by fuel type for the previous six-month period.

• Authorizes the Division to remove qualified status from energy services providers that fail to meet reporting requirements after two violations, with costs of reporting to be paid by the provider.

• Establishes that lease-purchase terms cannot exceed the lesser of 20 years or the average useful life of energy conservation measures, and shared-savings or energy performance contract terms cannot exceed 20 years.