New Hampshire Senate Bill SB54

New Hampshire 2023 Regular Session

• Introduced: 1/12/23
• Refer: 1/12/23
• Report Pass: 3/22/23
• Engrossed: 4/7/23
• Refer: 4/7/23
• Report Pass: 5/3/23
• Enrolled: 7/19/23
• Chaptered: 8/9/23
• Passed: 8/9/23

Caption

Relative to purchased power agreements for electric distribution utilities.

Impact

Should SB54 be enacted, it will empower investor-owned electric distribution utilities to create multi-year contracts for energy, thus enabling them to tap into both local and out-of-state energy resources. This is projected to diversify the energy supply in New Hampshire, potentially increasing the availability of affordable and reliable energy. The Public Utilities Commission is tasked with reviewing these agreements to ensure they are cost-effective and beneficial for ratepayers, which could lead to enhanced scrutiny and oversight of energy contracts.

Summary

Senate Bill 54 (SB54) focuses on enhancing the capacity of electric distribution utilities in New Hampshire to negotiate purchased power agreements. The bill allows these utilities to issue requests for proposals for long-term energy agreements that can involve various energy sources. The intent is to address rising electricity costs and to provide a more stable energy supply amidst ongoing market volatility. The legislative findings highlight the importance of developing reliable and low-cost electricity to support the state's residents and businesses.

Contention

One area of contention surrounding SB54 arises from concerns about how effectively it will stabilize energy prices and protect consumer interests. Critics may argue that while the ability to enter into multi-year agreements could lead to lower costs, it could also create dependencies on specific energy sources or suppliers that might not align with broader environmental or energy goals. There is also the question of how well the Public Utilities Commission can balance the need for immediate cost savings against the long-term sustainability of New Hampshire's energy infrastructure.