S.B. No. 44 Summary

• Repeals nuclear resource credit payment provisions from H.B. 6 of the 133rd General Assembly, eliminating support for nuclear power generation facilities.

• Renames and refocuses renewable resource credit provisions as "solar resource" credits, limiting eligibility to solar energy facilities that obtained construction certificates prior to June 1, 2019 and are interconnected with the PJM transmission grid.

• Maintains two separate generation funds: a nuclear generation fund receiving $150 million annually and a renewable solar generation fund receiving $20 million annually, collected through charges on electric distribution utility customer bills.

• Establishes credit prices at $9 per megawatt hour for both nuclear and solar resources, with payments made quarterly to eligible resource operators for electricity produced.

• Allows solar resource applicants who submitted applications before March 1, 2020 to have their applications reviewed and approved outside normal deadlines, with waived quarterly reporting requirements for those previously passed deadlines.