Michigan SB0324 amends the Public Utilities Commission to authorize a shared savings mechanism for electric utilities based on energy waste reduction.

Michigan SB0324 amends the Public Utilities Commission to authorize a shared savings mechanism for electric utilities that achieve energy waste reduction. The commission must authorize the mechanism within 90 days of the bill's effective date. The incentive varies based on the percentage of energy savings achieved: 30% for savings over 1.5%, 27.5% for savings between 1.25% and 1.5%, and 25% for savings between 1% and 1.25%. The mechanism cannot exceed 20% of the utility's expenditures for savings over 1.5%, 17.5% for savings between 1.25% and 1.5%, and 15% for savings between 1% and 1.25%.

Michigan SB0324 amends the Public Utilities Commission to authorize a shared savings mechanism for electric utilities based on energy waste reduction.

Michigan SB0324 amends the Public Utilities Commission to authorize a shared savings mechanism for electric utilities that achieve energy waste reduction. The commission must authorize the mechanism within 90 days of the bill's effective date. The incentive varies based on the percentage of energy savings achieved: 30% for savings over 1.5%, 27.5% for savings between 1.25% and 1.5%, and 25% for savings between 1% and 1.25%. The mechanism cannot exceed 20% of the utility's expenditures for savings over 1.5%, 17.5% for savings between 1.25% and 1.5%, and 15% for savings between 1% and 1.25%.