Delaware General Assembly

Signed 6/28/07

The General Assembly has ended, the current status is the final status.

SB 18

5/10/07

McDowell

Sen. Blevins, Copeland, F Simpson, Bunting, Sokola, Sorenson
Reps. Thornburg, Lofink, Schooley, Hall-Long, Kowalko, Brady, Keeley, McWilliams, Plant, Spence, Valihura

Sen. Cloutier

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) program 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 use competitively selected Implementation Contractors to deliver services utilizing performance based contracts. 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 Contract Administrator 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. The substitute bill adds a ¾ voting requirement which is required by the constitution. This Substitute Act allows the SEU through the Contract Administrators to independently raise a series of special purpose 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. Bond repayment sources may include, but not be limited to, funds from shared savings agreement with SEU participants and partial proceeds from the sale of Renewable Energy Credits in local and regional markets. The Green Energy Fund managed by the DEO with assistance from the SEU, shall provide equity leverage for the SEU.

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Takes effect upon being signed into law

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