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Senate panel questions HB2 sweep of renewable energy fund, asks how lower REC targets affect revenues and programs
Summary
Jared Chicoine, commissioner of the New Hampshire Department of Energy, told the Senate Finance Committee that most of the department’s budget is from non‑general‑fund sources and that the House version of HB 2 would send any uncommitted Renewable Energy Fund balance to the general fund.
Jared Chicoine, commissioner of the New Hampshire Department of Energy, told the Senate Finance Committee that most of the department’s budget is from non‑general‑fund sources and that the Renewable Energy Fund (REF) is the target of language in the House version of HB 2 that would move uncommitted REF balance to the general fund.
"Approximately 75% of our budget comes from federal funds," Chicoine said, adding that about 70% of the department's budgeted appropriations are pass‑through grants. He and Deputy Commissioner Chris Elms described the HB 2 language (page 70, section 185) as allowing a sweep of uncommitted REF money, and Elms said the House’s change would “take all uncommitted money” rather than a set dollar amount.
Committee members raised two linked concerns: (1) how much uncommitted money is in the REF now, and (2) whether reductions in renewable energy credit (REC) compliance rates (the House amendment…
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