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(a) On or before January 1, 2027, the public utilities commission shall conduct a
comprehensive review of:
(1) The status of the state’s progress toward meeting the renewable energy standard;
(2) The status of the state’s progress toward meeting the greenhouse gas emissions
reduction requirements;
(3) The extent to which renewable energy procurement and development within the state
is sufficient to ensure long-term compliance with such requirements;
(4) The impact on meeting mandated carbon reduction goals in § 42-6.2-9;
(5) Estimated cost of compliance of the renewable energy standard; and
(6) Recommendations for creation of an intervenor compensation program to provide
compensation in the form of a grant for legal fees, expert witness fees and other reasonable costs
to an intervenor in public utility commission proceedings.
(b) On or before December 31, 2027, public utilities commission shall submit a report of
their findings, and recommendation of actions required pursuant to this section, to the governor,
the speaker of the house, the president of the senate, and the chairs of the house committees on
environment and natural resources, finance, and corporations and the senate committees on finance,
environment and agriculture, and commerce. The report shall detail the following:
(1) Renewable and zero-emission resources used for compliance;
(2) Estimated cost of compliance of the renewable energy standard;
(3) Impact on meeting mandated carbon reduction goals in § 42-6.2-9; and
(4) Any statutory changes needed to reach the 2033 targets established pursuant to this
chapter.
SECTION 9. Section 39-31-11 of the General Laws in Chapter 39-31 entitled "Affordable
Clean Energy Security Act" is hereby repealed.
39-31-11. Financial remuneration and incentives.
In order to achieve the purposes of this chapter, electric distribution companies shall be
entitled to financial remuneration and incentives for long-term contracts for newly developed
renewable energy resources, which are over and above the base rate revenue requirement
established in its cost of service for distribution ratemaking. Such remuneration and incentives shall
compensate the electric distribution company for accepting the financial obligation of the long-
term contracts. For long-term contracts approved pursuant to this chapter on or after January 1,
2022, the financial remuneration and incentives shall be in the form of annual compensation up to
one percent (1.0%) of the actual annual payments made under the contracts through December 31,
2026, for those projects that are commercially operating. For long-term contracts approved
pursuant to this chapter on or after January 1, 2027, financial remuneration and incentives shall not
be applied, unless otherwise granted by the commission. For any calendar year in which the electric
distribution company’s actual return on equity exceeds the return on equity allowed by the
commission in the electric distribution company’s last general rate case, the commission shall have
the authority to adjust any or all remuneration paid to the electric distribution company pursuant to
this section in order to assure that such remuneration does not result in or contribute toward the
electric distribution company earning above its allowed return for such calendar year.
SECTION 10. Chapter 42-12 of the General Laws entitled "Department of Human
Services" is hereby amended by adding thereto the following section: