LD 1929
pg. 3
Page 2 of 3 An Act To Promote Economic Development in the State by Encouraging the Producti... LD 1929 Title Page
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LR 2811
Item 1

 
ratepayers in the State.__In making this determination the
commission shall consider the total installed megawatts and the
megawatt hours generated by efficient resources and renewable
resources in the State.__The commission shall submit its findings
along with any recommended legislation to the joint standing
committee of the Legislature having jurisdiction over utilities and
energy matters by December 15, 2007.

 
4-C. Maine Renewable Power Fund.__There is established the
Maine Renewable Power Fund, referred to in this subsection as
"the fund." The fund is a nonlapsing fund. The commission shall
administer the fund and disperse payments made by competitive
electricity providers to meet any unmet Tier 2 portfolio
requirement to resources eligible for the Tier 2 portfolio
requirement in the form of per megawatt hour support payments.

 
4-D.__Credit trading.__Beginning March 1, 2005, the commission
shall allow competitive electricity providers to satisfy the
portfolio requirements of subsection 3-A through renewable energy
credits if the commission determines that a reliable system of
electricity attribute trading exists.

 
Sec. 7. 35-A MRSA §3210, sub-§7 is enacted to read:

 
7. Rules.__The commission shall adopt rules necessary to
implement this section, including rules governing the
disbursement of money from the Maine Renewable Power Fund.__Rules
adopted pursuant to this subsection are major substantive rules
pursuant to Title 5, chapter 375, subchapter 2-A.

 
SUMMARY

 
This bill amends the renewable resources portfolio standard to
encourage economic development opportunities in the State,
increase the State's use of renewable resources to generate
electricity and reduce greenhouse gas emissions from the State's
electricity supply portfolio.


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