(2) Unless the Public Utility Commission grants an investor-owned utility a waiver under subsection (4) of this section, the on-bill financing system of the utility must:
(a) Enable a customer to make a single payment to satisfy the periodic utility charges and repayment on an energy efficiency and sustainable technology loan;
(b) Provide a clearly identifiable line item or separate statement in the utility bill that shows the energy efficiency and sustainable technology loan repayment amount; and
(c) Direct energy efficiency and sustainable technology loan repayment amounts collected by the utility to the appropriate sustainable energy project manager or to the department for deposit to the credit of the Small Scale Local Energy Project Administration and Bond Sinking Fund, Energy Project Bond Loan Fund or Energy Project Supplemental Fund.
(3) The Public Utility Commission shall adopt rules for the use of on-bill financing by investor-owned utilities. The rules may include, but need not be limited to, rules regarding nonpayment, insufficient payment, delinquency notices, repayment charge transfers, processing fees, late fees and refunds. The commission may not adopt any rule that imposes responsibility for the repayment of an energy efficiency and sustainable technology loan on the utility.
(4) The commission may waive the requirement that an investor-owned utility provide on-bill financing for one or more loans if the commission determines that providing the on-bill financing is not practicable. If the commission grants a utility a waiver under this subsection, the utility shall bill the affected customers for loan repayment separately from any utility customer meter billings. [2009 c.753 §32; 2010 c.92 §7; 2013 c.8 §10]