Sec. 2. 35-A MRSA §3212, sub-§7 is enacted to read:

7.__Duration; fixed price.__Any standard offer approved after July 1, 2001 must be of at least one year in duration and contain a fixed total per kilowatt hour price for the applicable group of customers.__Such a standard offer must include the estimated final cost to provide the full energy and capacity needs of the customer group for the duration of the standard offer.

SUMMARY

This bill amends certain provisions of Maine's electric utility restructuring laws to provide:

1. Modification of surety bond requirements imposed on competitive electricity providers to reduce barriers to entry and increase competitive options for all ratepayers; and

2. That the Public Utilities Commission may approve only those standard offers after July 1, 2001 that are at least one full year in duration and that provide a known and fixed price to customers to provide the full requirement energy and capacity needs of the customer group.