-Allows all eligible commercial, industrial, and agricultural customer-generators who are net electricity producers over a normal billing cycle to carry over any excess kilowatt-hours to the following billing period as a monetary value (Sec. 1).
-Mandates that at the end of each 12-month period wherein electricity generated by the customer-generator exceeds the electricity supplied by the electric utility, the customer-generator is a net surplus customer-generator (Sec. 1).
-Requires the electric utility to either provide net surplus electricity compensation for any surplus electricity generated, or to allow the eligible customer-generator to apply the net surplus electricity as a credit for kilowatt-hours subsequently supplied by the electric utility (Sec. 1).
-Requires the ratemaking authority to establish a net surplus electricity compensation valuation to compensate the net surplus customer-generator for the value of net surplus electricity generated, while ensuring that other ratepayers are not disadvantaged, by 01 January 2011 (Sec. 1).