Senate Bill 18
144th General Assembly (2007 - 2008)
The General Assembly has ended, the current status is the final status.
AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE TO CREATE A SUSTAINABLE ENERGY UTILITY IN THE STATE OF DELAWARE.
This Act represents the work of the Sustainable Energy Utility Task Force. It creates the Delaware Sustainable Energy Utility (SEU), a competitively selected nonprofit under contract to the Delaware Energy Office, to coordinate and promote the sustainable use of energy in Delaware. The SEU will use competitive markets and leveraged private-financing to deliver cost-effective end-use energy services that allow Delawareans to save 30% of their annual energy usage. The SEU will coordinate services that target residential, commercial, industrial, and transportation energy end-users in all energy markets, including electricity, heating fuels, green buildings, clean vehicles, customer-sited renewable energy, and affordable energy. The SEU will serve as a comprehensive statewide information clearinghouse, or the “one-stop-shop” for sustainable energy services in Delaware. The SEU will use competitively selected Implementation Contractors to deliver services. This Act creates a Fiscal Agent to serve, under contract to the Energy Office, as the SEU’s “treasury.” The Act also creates an Oversight Board to ensure that the SEU meets responsibilities and performance targets enumerated in its contract with the Energy Office. This Act creates initial performance targets for the SEU as well as evaluation and monitoring mechanisms to ensure that SEU energy savings are verifiable. The SEU may receive performance incentives such that if it exceeds program targets by 120% it will receive a bonus, and if it achieves less than 80% of program targets it will be penalized. This Act gives the Delaware Energy Office, on behalf of the SEU, the authority to raise a series of special purpose tax-exempt bonds with a total value capped of $30 million between 2007 and 2015. Any such bonds may only be used to fund SEU contractors and programs. The State of Delaware will not be liable for repayment of any such bonds.
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Takes effect upon being signed into law