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An Act To Ensure the Regional Greenhouse Gas Initiative Trust Fund Continues To Promote Energy Efficiency and Benefit Maine Ratepayers
Be it enacted by the People of the State of Maine as follows:
Sec. 1.  35-A MRSA §10109, sub-§3-B  is enacted to read:
 
3-B.  Ceiling on energy efficiency spending.     There is established a ceiling on energy efficiency spending from the trust fund equal to $5 per carbon dioxide allowance. Only the first $5 of revenue received by the trust from each carbon dioxide allowance sold may be expended in accordance with subsection 4.
 
A.  Beginning with fiscal year 2020-21:
 
(1) Revenue in excess of $5 per carbon dioxide allowance received by the trust from the sale of carbon dioxide allowances, up to an aggregate limit of $3,000,000 per year, must be transferred to the commission for use by the commission for the benefit of affected customers in accordance with subsection 3-A; and
 
(2) Revenue received by the trust in excess of the amount transferred in accordance with subparagraph (1) must be transferred to the commission for distribution to Maine-based energy-intensive businesses, other than affected customers, up to an additional $3,000,000 annually.
 
B.  Any funds received by the trust in excess of a value of $5 per carbon dioxide allowance plus the amounts transferred to affected customers pursuant to paragraph A, subparagraph (1) or businesses pursuant to paragraph A, subparagraph (2) must be transferred to the commission for distribution to electric ratepayers in a manner designed to provide the greatest benefit to the State's economy as determined by the commission.
 
For purposes of this subsection, "affected customer" has the same meaning as in subsection 3-A. The commission may adopt rules to implement this subsection. Rules adopted under this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A.
 
SUMMARY
This bill reestablishes a ceiling that was repealed in 2013 on energy efficiency spending from the Regional Greenhouse Gas Initiative Trust Fund; provides for transfers from the trust fund to Maine-based energy-intensive businesses, in addition to transfers to affected customers; requires that funds over a certain amount be distributed to ratepayers; and authorizes the Public Utilities Commission to adopt implementing rules.