Proposal would put energy programs under an authority and back nuclear industry

The proposal describes a public authority that would run energy-saving programs and promote nuclear power and related industries. The authority’s energy-saving services would be for customers of retail electric and natural gas utilities and the New Hampshire electric cooperative. Municipal utility projects could receive services only to the extent the Department of Energy allocates funds for them. The proposal sets January 1, 2027, as its effective date. The Department of Energy commissioner would set the date when program duties move from utilities to the authority, after deciding it is ready.

The authority would plan energy-saving programs, measure their results, and report on its work. The programs would serve electricity and natural gas customers in the authority’s service area. The authority would consult with entities and agencies that deliver efficiency programs when preparing its plan. The board would have to approve programs and plans. At least 20 percent of system benefits charge and local gas adjustment charge funds would go to low-income programs. At least 15 percent of certain Department of Energy funds would also go to low-income programs. The authority would prepare a three-year plan and send a report each year by April 1. It would first carry out the remaining approved utility plan before starting its own programs.

The authority could lend to nuclear-related businesses and recommend state-backed loan guarantees; the governor and council could approve guarantees. Eligible businesses would operate in New Hampshire and develop nuclear power or solely support the nuclear power business. A business receiving a state-backed loan guarantee would need federal support for the same or a related project. The governor and council would have to hold a hearing and make required findings before approving a guarantee. A loan guarantee could cover up to 90 percent of the loan amount not guaranteed elsewhere, or $20 million, whichever is less. The state could pledge its full faith and credit. The proposal sets January 1, 2027, as its effective date; it gives no separate start date for individual loans or guarantees.