H298 - Affordable and Reliable Energy Act

• Freezes renewable energy portfolio standards (REPS) requirements for electric utilities at 6% through 2018, eliminating previously scheduled increases to 10% in 2018 and 12.5% by 2021.

• Increases the percentage of REPS requirements that can be met through energy efficiency measures from 25% to 50% for electric utilities.

• Allows cost recovery through customer charges with per-account annual limits: residential $34.00, commercial $150.00, and industrial $1,000.00 (effective 2015 and thereafter).

• Removes the separate solar and poultry waste energy requirements that were previously scheduled to increase through 2018; maintains swine waste requirements at 0.14% through 2018.

• Requires the Legislative Research Commission to study state energy policy and provide recommendations to the 2015 General Assembly on changes needed to the renewable energy law.