SB423

Creating Public Electrical Savings Act establishes parameters for power purchase agreements and modifies jurisdiction of the Public Service.

Creating Public Electrical Savings Act creates parameters for power purchase agreements entered into by public entities. It exempts certain electric generating facilities from the jurisdiction of the Public Service Commission. The act limits the commission's jurisdiction over certain public utilities and exempts some from its oversight. It also sets conditions for power purchase agreements, including font size requirements and cost guarantees. The act further mandates inspections and reporting on meters used in these agreements.