(a) The retail electric licensing commission shall, by January 1, 1997, submit a plan to the legislature that shall include, but not be limited to, the following:
(1) A recommendation for taxing and/or assessing electric distribution companies, electric transmission companies, and nonregulated power producers;
(2) Recommendations regarding changes to the regional power pool that would facilitate the creation of an independent system operator and voluntary power exchange; and
(3) Proposals for consumer protections, access to books and records, and other requirements the retail electric licensing commission determines to be reasonable, necessary, and in the public interest.
(b) (1) On or before January 1, 1997, the public utilities commission shall establish regulations applicable to nonregulated power producers that are selling electricity in this state that are necessary to meet (directly or through contract) the operating and reliability standards of the regional power pool.
(2) In addition, the public utilities commission shall participate in all proceedings before the Federal Energy Regulatory Commission with respect to the modification and/or termination of wholesale all requirements contracts in place as of January 1, 1996, between electric-distribution companies operating in this state and their affiliated power suppliers. The purpose of this participation is to ensure that termination fees payable by ultimate customers in this state are determined in accordance with the provisions of § 39-1-27.4. To facilitate this participation, the public utilities commission is authorized to assess electric-distribution companies under its jurisdiction for its reasonable expenses incurred in connection with its participation in those proceedings, up to a maximum of one hundred thousand dollars ($100,000) per year, which assessments shall be in addition to all other assessments authorized by this title.
(3) On January 1, 1998, and annually for the next four (4) years thereafter, the public utilities commission shall transmit to the governor, the speaker of the house, and the president of the senate, a report detailing: developments in the competitive power supply market in this state; estimated savings realized by customers as a result of the introduction of retail competition in the power supply market; progress towards implementation of a regional transmission agreement for New England and other reforms implemented by the regional power pool; and the status of electric industry restructuring activities in the other New England states and any recommendations for statutory changes.
(c) All nonregulated power producers seeking to engage in the retail sale of electricity in this state must file with the division of public utilities and carriers a notarized registration application that includes the information identified below and any additional information required by the division of public utilities and carriers pursuant to regulations issued to protect the public interest in connection with the registration of entities seeking to sell electricity at retail:
(1) Legal name;
(2) Business address;
(3) The name of the state where organized; the date of organization; a copy of the articles of incorporation, association, partnership agreement, or other similar document regarding legal organization;
(4) Name and business address of all officers and directors, partners, or other similar officials;
(5) Name, title, and telephone number of customer-service contact person;
(6) Name, title, and telephone number of regulatory contact person;
(7) Name, title, and address of registered agent for service of process;
(8) Brief description of the nature of business being conducted; and
(9) Evidence of financial soundness, except those nonregulated power producers that may be obligated entities under § 39-26-2(17) shall provide security such as a surety bond or other financial instrument showing evidence of liquid funds, such as a certificate of deposit, an irrevocable letter of credit, a line of credit, a loan, or guarantees in an amount specified by the division, pursuant to rules and regulations promulgated by the division on or before February 1, 2017, provided that the amount be not less than twenty-five thousand dollars ($25,000), nor more than five hundred thousand dollars ($500,000). The financial instrument shall name the public utilities commission and division of public utilities and carriers as obligees. Financial security shall be reviewed each year at the time a nonregulated power producer makes its annual filing. The financial security shall be available to satisfy penalties assessed by the division for violations of any consumer-protection rules or laws related to nonregulated power producers; refunds ordered by the division; or failure to comply with the provisions of chapter 26 of this title, as determined by the public utilities commission. Payments made pursuant to this subsection for violation of the provisions of § 39-26-4 shall be forfeited, and shall be remitted to the renewable energy development fund established in § 39-26-7, or any successor funds, and all other forfeitures will be remitted to the state's general fund.
(d) Copies of all filings pursuant to subsection (c) shall be served upon the commission and all electric distribution companies. Updated information shall be filed within ten (10) days of any change to the information included in a registration application, as filed or previously updated. Registration applications filed pursuant to subsection (c) shall become effective thirty (30) days after filing with the division, unless rejected during the thirty-day (30) period. If the division should reject a registration application, it shall specify the applicable reasons in writing and, if practicable, identify alternative ways to overcome any deficiencies. After an opportunity of a hearing, the division may rescind a nonregulated power producer's registration for cause. Nonregulated power producers shall be authorized to do business in this state after their registration becomes effective and while it remains in good standing.
(e) A filing fee of one hundred dollars ($100) shall accompany all registration applications filed pursuant to subsection (c). Nonregulated power producers shall thereafter renew their registrations with the division on an annual basis. Applications for renewal shall be filed before the close of business on December 31 of each calendar year. Applications for renewal shall specify any changes in previously filed registration information. A filing fee of one hundred dollars ($100) shall accompany all applications for renewal of nonregulated power producer status.
History of Section.
P.L. 1996, ch. 316, § 1; P.L. 2001, ch. 258, § 1; P.L. 2001, ch. 398, § 1; P.L. 2016, ch. 483, § 1; P.L. 2016, ch. 497, § 1; P.L. 2019, ch. 274, § 1; P.L. 2019, ch. 281, § 1.