10 Things to Know About New MA Energy Bill
The Massachusetts state Senate is debating an important energy bill that will impact a variety of things including renewable resource contracts in the state and the way that customers' rate increases are reviewed. It's important for anyone concerned about energy in the state, even if it's just the cost of their own energy bills, to pay attention to this debate.
Here are ten things that you should know about the bill:
1. The bill would require that utility companies, like National Grid Massachusetts and WMECO, purchase at least seven percent of their total power supply from renewable resources. This is an increase of 4% and would be good news for the development of renewable energy in the state.
2. Long-term renewable energy contracts would involve more competiti
ve bidding. This is more good news for affordable renewable energy in the state.
3. Guaranteed investment returns would be decreased on these long-term contracts. This increases the benefits of renewable resource energy for the whole state instead of just select investors.
4. Approval of the bill should keep customers' bills down over the next several years by reducing the likelihood of increased rates for delivering MA electricity.
5. The bill would increase the amount of time that legislators have to review requested rate increases. This can further help to keep customers' bills fair.
6. Regulators could require that large rate increases (those exceeding ten percent) be spread out over a two-year period to make it more manageable for customers to adapt to those changes.
7. Providers of renewable energy resources can now earn more money. What this means is that if your home or business uses something like solar panels you're able to get more credit from that than before if the bill passes.
8. A central procurement agency would be set up to help out in the case that renewable resource generation decreases for some reason. This helps keep the system efficient.
9. There is hope that this bill would reduce state energy costs.
10. There is no guarantee that rates will go down or up with this bill. The point is to make the entire system fairer, improve the state's clean energy options and give a closer look to any rate changes whether they are decreases or increases.
Publish Date: 2012-04-20 16:48:28
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