House Bill 951 Summary

• Utilities Commission must achieve 70% reduction in carbon dioxide emissions from electric utilities by 2030 (from 2005 levels) and carbon neutrality by 2050, with a Carbon Plan due by December 31, 2022.

• Commission authorized to approve performance-based regulation (PBR) for electric utilities, including decoupling mechanisms, performance incentive mechanisms, and multiyear rate plans (up to 36 months) with earnings sharing.

• Solar procurement requirements mandate 45% of new solar capacity through power purchase agreements with third parties (80 MW or less) and 55% utility-built or utility-owned facilities.

• Commission must establish rules within 180 days for securitization of costs from early retirement of subcritical coal-fired plants at 50% of remaining net book value, plus rules for standby charges, net metering, and voluntary renewable energy programs.

• Small power producers (solar, ≤5 MW AC capacity) established before November 15, 2016 have one-time option to extend existing power purchase agreements by 10 additional years with rates benefiting all customer classes.