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House work session examines changes to renewable portfolio standard that sponsor says will cut rates by about $5.7 million
Summary
Representative Vos, sponsor of House Bill 219, told the House Finance Committee that the bill would change New Hampshire’s renewable portfolio standard by removing Class 2 renewable energy certificates, lowering the Class 1 thermal obligation from 2.2% to 1.7%, and aligning alternative compliance payments with other New England states.
Representative Vos, sponsor of House Bill 219, told the House Finance Committee that the bill would change New Hampshire’s renewable portfolio standard (RPS) by removing Class 2 renewable energy certificates (RECs), reducing the utility obligation to procure Class 1 thermal RECs from 2.2% to 1.7%, and adjusting alternative compliance payments (ACPs) for Classes 1, 3 and 4 to be comparable to other New England states. "The result of these changes will save ratepayers an estimated $5,700,000 per year," Vos said, adding the reductions primarily come from fewer ACPs when utilities cannot buy the required Class 1 thermal RECs.
Why it matters: the RPS cost is passed through to customers in rates, making changes…
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