General Assembly Raised Bill No. 7107
January Session, 2017 LCO No. 3888
*03888_______ET_*
Referred to Committee on ENERGY AND TECHNOLOGY
Introduced by:
(ET)
General Assembly
Raised Bill No. 7107
January Session, 2017
LCO No. 3888
*03888_______ET_*
Referred to Committee on ENERGY AND TECHNOLOGY
Introduced by:
(ET)
AN ACT CONCERNING THE INVESTMENT AND USE OF REGIONAL GREENHOUSE GAS ACCOUNT FUNDS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (b) of section 22a-200c of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2017):
(b) The Department of Energy and Environmental Protection shall auction all emissions allowances and invest the proceeds, which shall be deposited into a Regional Greenhouse Gas account established by the Comptroller as a separate, nonlapsing account within the General Fund, on behalf of electric and gas ratepayers and heating oil customers in energy conservation, load management and [Class I renewable energy programs] clean energy, as defined in section 16-245n. In making such investments, the Commissioner of Energy and Environmental Protection shall consider strategies that maximize cost effective reductions in greenhouse gas emission. Allowances shall be auctioned under the oversight of the Department of Energy and Environmental Protection by a contractor or trustee on behalf of the electric and gas ratepayers and heating oil customers. On or before July 1, 2015, notwithstanding subparagraph (C) of subdivision (5) of subsection (f) of section 22a-174-31 of the regulations of Connecticut state agencies, the commissioner may allocate to the Connecticut Green Bank any portion of auction proceeds in excess of the amounts budgeted by electric distribution companies in the plan submitted to the department on November 1, 2012, in accordance with section 16-245m, to support energy efficiency programs, including, but not limited to, electric, oil and gas efficiency, provided any such excess proceeds may be calculated and allocated on a pro rata basis at the conclusion of any auction.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2017 22a-200c(b)
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2017
22a-200c(b)
Statement of Purpose:
To broaden the types of energy investments authorized for the proceeds from the Regional Greenhouse Gas Initiative auctions.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]