Authorizes and directs the public service commission to study the impact on consumers and perform a cost benefit analysis of the Reforming the Energy Vision (REV) initiative

3 Co-sponsors

• Rich Funke
• Kemp Hannon
• Betty Little

BILL NUMBER:S5131

Title of bill

An act in relation to authorizing and directing the public service commission to study the impact on consumers and perform a cost benefit analysis of the Reforming the Energy Vision (REV) initi- ative

Purpose of bill

This bill would authorize and direct the public service commission to study the impact on consumers and perform a cost benefit analysis of the REV initiative.

Summary of provisions

Section 1 -- Such study and analysis performed by the public service commission to study the impact on consumers and perform a cost benefit analysis of the Reforming the Energy Vision (REV) initiative shall include, but not be limited to:

1) analysis of the potential benefits and costs of the REV initiative;

2) the impact of REV on electric rates charged to consumers through additional taxes and fees, increased rates or any charges required to fund the REV initiative;

3) the feasibility of other potential initiatives and approaches to upgrading and updating the current energy infrastructure;

4) an analysis of potential benefits and costs of such other initiatives determined feasible pursuant to subdivision three of this section;

5) the impact on consumers resulting from the cost and expense of replacing existing energy infrastructure; and

6) any other information the public service commission deems necessary.

Section 2 - The public service commission shall report its finds to the Governor, the Temporary President of the Senate, the Speaker of the Assembly, the Minority Leaders of the Senate and the Assembly on or before one year after the effective date of this act.

Section 3 - No additional taxes and fees, increased rates or any other charges required to fund the REV initiative shall be imposed upon exist- ing utility rates and charges of consumers of this state until the completion of the study, analysis and report set forth in this act.

Section 4 - Effective date

Justification

The full details of The Energy Highway and REV initi- atives have not yet been fully disclosed. This legislation would require a fiscal analysis and provide more transparency for what has the poten- tial to be a multi-billion dollar initiative.

Legislative history

New bill

Fiscal implications

Nominal

Effective date

This act shall take effect immediately.