SB230: relative to transition service and relative to the sale of PSNH generation assets.

SB 230 - AS INTRODUCED

2003 SESSION

03-1177

03/09

SENATE BILL 230

AN ACT relative to transition service and relative to the sale of PSNH generation assets.

SPONSORS: Sen. Below, Dist 5; Sen. Gatsas, Dist 16; Sen. Odell, Dist 8; Sen. D'Allesandro, Dist 20; Sen. Cohen, Dist 24; Rep. Norelli, Rock 86; Rep. Maxwell, Merr 35; Rep. Pitts, Rock 86; Rep. Kaen, Straf 72

COMMITTEE: Energy and Economic Development

ANALYSIS

This bill extends initial transition service end day and the date after which PSNH may sell fossil and hydro generation assets. This bill also permits alternative transition service cost reconciliation.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

03-1177

03/09

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Three

AN ACT relative to transition service and relative to the sale of PSNH generation assets.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Electric Rate Reduction Financing; Definitions; Initial Transition Service End Day. Amend RSA 369-B:2, VII to read as follows:

VII. "Initial transition service end day" means [33] 60 months after competition day.

2 Authority to Issue Finance Orders to Finance RRB Costs; Cost Reconciliation. Amend RSA 369-B:3, IV(b)(1)(D) to read as follows:

(D) Any difference between the price of transition service, exclusive of the portion attributable to the renewable energy component under RSA 374-F:3, V(f), from competition day to the day that PSNH ceases to provide transition service and PSNH's actual, prudent, and reasonable costs of providing such power as determined by the commission shall first be separated between the 2 groups of customers described in subparagraphs (b)(1)(B) and (b)(1)(C), used first to offset any differences described in subparagraph (b)(1)(B), and the net then reconciled for each group of customers [either] by changing the recovery end date, [or] by decreasing the stranded cost recovery charge, or, if the recovery end date has passed, by implementing some other form of equitable reconciliation, as the commission finds to be in the public interest;

3 Sale of PSNH Generation Assets; Date. Amend 2000, 249:7, II, as amended by 2001, 29:13 to read as follows:

II. The sale of PSNH fossil and hydro generation assets shall take place no sooner than [33] 60 months after competition day as defined in RSA 369-B:2, III.

4 Effective Date. This act shall take effect 60 days after its passage.