Energy: alternative sources; shared savings mechanism; provide for. Amends 1939 PA 3 (MCL 460.1 - 460.11) by adding sec. 6x.

SB 324 requires the Public Service Commission to establish a "shared savings mechanism" for electric utilities in Michigan. This mechanism aims to incentivize electric utilities to invest in programs that reduce energy waste, conserve energy, and manage demand. Utilities can earn financial incentives based on the annual electric energy savings they achieve. The incentive is calculated as a percentage of the net benefits from these programs, with higher savings leading to a greater percentage of shared savings, up to a specified cap related to program expenditures.