AN ACT TO AMEND TITLE 26 OF THE DELAWARE CODE RELATING TO RENEWABLE ENERGY PORTFOLIO STANDARDS.

The Renewable Portfolio Standard (RPS) is the percentage of electricity that utilities must source from renewables. This is presently set at 25% and will increase annually, culminating at 40% in 2035. Delaware does not currently have enough renewable energy to meet the present mandate, let alone future RPS requirements. Renewable energy is also in short supply on the regional power grid. If it is available, consumers are paying additional distribution charges to transmit it to Delaware. If renewable energy is not obtainable, Delaware utilities are paying penalties to the state for failing to achieve the RPS mandate. In each of the last two years, Delmarva Power has spent about $13 million annually in such state mandated compliance fees. All these cost multipliers are being passed along to consumers, making power more expensive for Delaware ratepayers. This bill recognizes the current flawed public energy policy that has resulted in renewable energy demand significantly outpacing supply. This legislation seeks to provide relief to Delawareans by rolling back the Renewable Portfolio Standard to 10% and maintaining the RPS requirement for the next 10 years, providing sufficient time for renewable generation capacity to meet demand. After the 10-year period expires, the RPS percentage will resume scheduled annual increases.