Establishes a $10 per megawatt hour alternative compliance payment for Class II renewable energy requirements.

This bill amends existing law to establish a new alternative compliance payment for Class II renewable energy generation requirements. The payment is set at $10 per megawatt hour. Energy suppliers and producers can use this payment to comply with the renewable energy requirements set by the Board of Public Utilities. The collected payments will be refunded directly to the ratepayers by the electric public utilities. The bill takes effect immediately upon enactment.

Establishes a $10 per megawatt hour alternative compliance payment for Class II renewable energy requirements.

This bill amends existing law to establish a new alternative compliance payment for Class II renewable energy generation requirements. The payment is set at $10 per megawatt hour. Energy suppliers and producers can use this payment to comply with the renewable energy requirements set by the Board of Public Utilities. The collected payments will be refunded directly to the ratepayers by the electric public utilities. The bill takes effect immediately upon enactment.