Hawaii HB974 establishes step-in agreements to ensure payment for power purchase costs in case of utility default.
Hawaii HB974 aims to secure the development of clean energy resources by establishing step-in agreements for power purchase costs. These agreements ensure prompt and full payments to independent power producers in the event of a default by an electric utility. The bill also establishes a trust fund to hold revenues from power purchase charges in case of default. The electric utility is appointed as an agent to manage these charges.
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