New Hampshire § 362-F-9 - Section 362-F:9 Purchased Power Agreements.

§ 362-F-9. Section 362-F:9 Purchased Power Agreements.

I. Upon the request of one or more electric distribution companies and after notice and hearing, the department of energy may authorize such company or companies to enter into multi-year purchase agreements with renewable energy sources for certificates, in conjunction with or independent of purchased power agreements from such sources, to meet reasonably projected renewable portfolio requirements and default service needs to the extent of such requirements, if it finds such agreements or such an approach, as may be conditioned by the department of energy, to be in the public interest. II. In determining the public interest, the department of energy shall find that the proposal is, on balance, substantially consistent with the following factors: (a) The efficient and cost-effective realization of the purposes and goals of this chapter; (b) The restructuring policy principles of RSA 374-F:3; (c) The extent to which such multi-year procurements are likely to create a reasonable mix of resources, in combination with the company's overall energy and capacity portfolio, in light of the energy policy set forth in RSA 378:37 and either the distribution company's integrated least cost resource plan pursuant to RSA 378:37-41, if applicable, or a portfolio management strategy for default service procurement that balances potential benefits and risks to default service customers; (d) The extent to which such procurement is conducted in a manner that is administratively efficient and promotes market-driven competitive innovations and solutions; and (e) Economic development and environmental benefits for New Hampshire. III. The department of energy may authorize one or more distribution companies to coordinate or delegate procurement processes under this section. IV. Rural electric cooperatives for which a certificate of deregulation is on file with the department of energy shall not be required to seek department of energy authorization for multi-year purchased power agreements or certificate purchase agreements under this section.