Signed by Governor Bill Richardson

Vote Smart's Synopsis:

Vote to pass a bill that applies energy efficiency requirements to public utility companies and provides financial incentives to implement cost-effective energy efficiency programs.

Highlights:

- Requires public utilities providing electricity to achieve a savings of at least five percent of total 2005 retail kilowatt-hour sales by 2014, and ten percent by 2020 as a result of energy efficient and load management programs [sec. 6 (G)]. - Requires the Public Regulation Commission to identify barriers for the achievement of energy efficiency and ensure that they are removed in a manner that balances the interests of the public, consumers and investors [sec. 6 (F)]. - Requires the Public Regulation Commission to provide public utilities with an opportunity to earn a profit on cost-effective energy efficiency and load management resource development [sec. 6 (F)]. - Allows public utilities that cannot meet the requirements to appeal to the Public Regulation Commission to have the minimum requirements reduced [sec. 6 (H)]. - Requires utilities to submit a program evaluation prepared by an independent evaluator to the Public Regulation Commission every three years. The evaluations will document the level of energy savings and the cost-effectiveness of the programs [sec 7 (B)].

Full Bill Text