AN ACT CONCERNING CONNECTICUT'S ECONOMY, ELECTRICITY AFFORDABILITY AND BUSINESS COMPETITIVENESS AND ESTABLISHING THE CONNECTICUT ENERGY PROCUREMENT AUTHORITY AND THE GREEN BOND FUND.

SB 1560 creates the Connecticut Energy Procurement Authority (CEPA) to address electricity affordability by improving system efficiency and reducing costs for residents and businesses. The bill establishes CEPA to coordinate electricity procurement, grid investments, and demand management - specifically targeting inefficient peak usage (where systems run at twice average capacity) and shifting costs from solar adopters to remaining ratepayers. Key mechanisms include promoting smart meters for dynamic pricing, supporting heat pumps and EV charging infrastructure, and encouraging efficient electricity use through demand-side management. This directly affects all Connecticut electricity customers, aiming to lower bills by optimizing grid utilization and aligning infrastructure with actual demand patterns.