Sec. 6. Consideration of performance-based incentive rates
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Section 111(d) of the Public Utility Regulatory Policies Act of 1978 ( 16 U.S.C. 2621(d) ) (as amended by section 4(c)) is amended by adding at the end the following: Each State regulatory authority, with respect to each electric utility for which the State regulatory authority has ratemaking authority, shall consider the use of performance-based incentive mechanisms to achieve public interest goals established by the State or State regulatory authority in accordance with subparagraphs
(B)and (C). In establishing public interest goals under subparagraph (A), the State or State regulatory authority, as applicable, shall consider— overall system efficiency, including reductions in peak demand; the integration and adoption of distributed energy resources; process improvements, such as predictable and timely interconnection processes; the resiliency and reliability of the electricity grid; customer engagement and satisfaction; environmental benefits, including reductions in particulate and greenhouse gas emissions; and any other factor determined to be appropriate by the State or State regulatory authority. In establishing public interest goals under subparagraph (A), the State or State regulatory authority, as applicable, shall specify quantifiable metrics with respect to the public interest goals that can be measured and verified. . Section 112 of the Public Utility Regulatory Policies Act of 1978 ( 16 U.S.C. 2622 ) is amended— in subsection (b), by adding at the end the following: Not later than 1 year after the date of enactment of this paragraph, each State regulatory authority (with respect to each electric utility for which it has ratemaking authority) shall, with respect to the standards established by paragraphs
(20)through
(22)of section 111(d)— commence the consideration referred to in section 111; or set a hearing date for the consideration. Not later than 2 years after the date of enactment of this paragraph, each State regulatory authority (with respect to each electric utility for which it has ratemaking authority) shall— complete the consideration required under subparagraph (A); and make the determination referred to in section 111 with respect to the standards established by paragraphs
(20)through
(22)of section 111(d). ; in subsection (c), by adding at the end the following: In the case of the standards established by paragraphs
(20)through
(22)of section 111(d), the reference contained in this subsection to the date of enactment of this Act shall be deemed to be a reference to the date of enactment of those paragraphs. ; in subsection (d), in the matter preceding paragraph (1), by striking
(19)and inserting
(22); and by adding at the end the following: Subsections
(b)and
(c)shall not apply to the standard established by paragraphs
(20)through
(22)of section 111(d) in the case of any electric utility in a State if, before the date of enactment of this subsection— the State has implemented for the electric utility the standard (or a comparable standard); the State regulatory authority for the State or the relevant nonregulated electric utility has conducted a proceeding to consider implementation of the standard (or a comparable standard) for the electric utility; or the State legislature has voted on the implementation of the standard (or a comparable standard) for the electric utility. . Section 124 of the Public Utility Regulatory Policy Act of 1978 ( 16 U.S.C. 2634 ) is amended by adding at the end the following: In the case of the standards established by paragraphs
(20)through
(22)of section 111(d), the reference contained in this subsection to the date of enactment of this Act shall be deemed to be a reference to the date of enactment of those paragraphs. .
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