Optimize Colorado Electric Transmission System

Section 3 of the act defines 'advanced transmission technologies' as hardware or software technologies that increase the capacity, efficiency, reliability, or resiliency of an existing or new transmission facility.     Section 4 requires the Colorado public utilities commission (commission) to adopt rules requiring a regulated electric utility to consider advanced transmission technologies in the electric utility's 10-year transmission plan and to identify strategies to reduce the costs of, and obtain financing for, new transmission. The commission is directed to minimize duplication of transmission planning processes, technical studies, or analyses conducted through an applicable regional transmission organization or independent system operator.     Section 5 requires the Colorado electric transmission authority (authority) to, as much as practicable, engage and coordinate with formal subregional transmission planning organizations.     Under current law, the authority is required to annually submit a report of its activities, including a complete operating and financial statement covering the operations of the authority for the previous state fiscal year, to certain committees of reference of the general assembly. Section 6 requires that the annual report also include a description of the activities and accomplishments of the authority during the previous calendar year.     Section 7 adds a nonvoting seat to the authority's board of directors for the director of the commission or the director's designee.     Section 8 clarifies that a project that includes advanced transmission technologies and meets certain criteria is an energy sector public works project. Section 9 states that an energy sector public works project that includes advanced transmission technologies must meet applicable prevailing wage requirements and apprenticeship utilization requirements.(Note: This summary applies to this bill as enacted.)