Report Title:

Renewable Portfolio Standards; Renewable Energy Resources

 

Description:

Increases renewable portfolio standard goals for electric utility companies to at least an additional 1% of the company's net electricity sales per year after 12/31/03, so that 20% of its net electricity sales are procured from eligible renewable energy resources by 12/31/16.

 

HOUSE OF REPRESENTATIVES

H.B. NO.

12

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to renewable portfolio standards.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 269-92, Hawaii Revised Statutes, is amended to read as follows:

"[[]§269-92[]] Renewable portfolio standards. Each electric utility company that sells electricity for consumption in the State shall establish a [renewables] renewable portfolio standard goal of:

(1) Seven per cent of its net electricity sales by December 31, 2003; and

(2) [Eight] At least an additional one per cent of its net electricity sales [by December 31, 2005; and

(3) Nine per cent of its net electricity sales by December 31, 2010.] per year after December 31, 2003, so that twenty per cent of its net electricity sales are procured from eligible renewable energy resources by December 31, 2016; provided that:

(A) An electric utility company with twenty per cent of its net electricity sales procured from eligible renewable energy resources in any year shall not be required to increase its procurement of those resources in the following year; and

(B) If an electric utility company fails to procure sufficient eligible renewable energy resources in a given year to meet any annual target established pursuant to this paragraph, the company shall procure additional eligible renewable energy resources in subsequent years to compensate for the shortfall."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act shall take effect on July 1, 2003.

INTRODUCED BY:

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