SB 111-FN - AS INTRODUCED
2025 SESSION
25-1112
06/08
SENATE BILL111-FN
AN ACTauthorizing a reliability indexing credit pilot program.
SPONSORS:Sen. Watters, Dist 4; Sen. Fenton, Dist 10; Sen. Rosenwald, Dist 13; Sen. Perkins Kwoka, Dist 21; Rep. McGhee, Hills. 35; Rep. Caplan, Merr. 8; Rep. Cormen, Graf. 15
COMMITTEE:Energy and Natural Resources
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ANALYSIS
This bill establishes a reliability indexing credit pilot program for the procurement of reliability indexing credits from qualified energy storage resources, defines related terms, and authorizes the public utilities commission to approve multi-year agreements and cost recovery mechanisms.
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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
25-1112
06/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
AN ACTauthorizing a reliability indexing credit pilot program.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Chapter; Reliability Indexing Credit Pilot Program. Amend RSA by inserting after chapter 374-H the following new chapter:
CHAPTER 374-I
RELIABILITY INDEXING CREDIT PILOT PROGRAM
374-I:1 Definitions. In this chapter:
I. “Energy storage” means energy storage as defined in RSA 374-H:1.
II. “Qualified energy storage resource” means an energy storage resource located in New Hampshire, which is expected to provide reliability value to the system by participating in the wholesale market.
III. “Reliability indexing credit” means the record that identifies and represents each megawatt-hour of capacity available from a qualified energy storage resource each day.
IV. “Reliability indexing credit reference price” means an approximation of the wholesale market revenues available for each megawatt-hour of capacity from an energy storage resource each day.
V. “Strike price” means the contract price for reliability indexing credits from a contracted qualified energy storage resource.
VI. “Reliability indexing credit pilot program” means a program for the procurement of reliability indexing credits in which payment for reliability indexing credits produced by qualified energy storage resources would be the difference between the competitively bid strike price and the reliability indexing credit reference price, calculated each day. On days for which the strike price exceeds the reliability indexing credit reference price, the contract would result in payment to the energy storage resource. On days for which the reliability indexing credit reference price exceeds the strike price, the contract would result in a charge to the energy storage resource.
2 New Section; Reliability Indexing Credit Pilot Program. Amend RSA 374-I:2 by inserting after section 15 the following new section:
362-F:16 Reliability Indexing Credit Pilot Program.
I. The public utilities commission shall authorize the state electric distribution utilities to enter into multi-year agreements with qualified energy storage resources to undertake a reliability indexing credit pilot program for up to 200 megawatts of energy storage and shall authorize the utilities to recover the costs associated with those agreements through an appropriate rate mechanism if it finds such agreements to be just and reasonable and in the public interest..
II. The department of energy shall develop recommended terms and conditions of the reliability indexing credit pilot program through an investigation which shall be completed by December 1, 2025. Upon the completion of the investigation, but no later than February 1, 2026, the state electric distribution utilities shall petition the public utilities commission to undertake the reliability indexing credit pilot program with the recommended terms and conditions specified by the department of energy and to seek rate recovery for the costs associated with those agreements.
3 Effective Date. This act shall take effect 60 days after its passage.
LBA
25-1112
1/17/25
SB 111-FN- FISCAL NOTE
AS INTRODUCED
AN ACTauthorizing a reliability indexing credit pilot program.
FISCAL IMPACT:
The Office of Legislative Budget Assistant is unable to complete a fiscal note for this bill as it is awaiting information from the Department of Energy. The Department was contacted on 1/10/25 for a fiscal note worksheet. When completed, the fiscal note will be forwarded to the Senate Clerk's Office.
AGENCIES CONTACTED:
Department of Energy and Public Utilities Commission