AN ACT RELATING TO PUBLIC UTILITIES AND CARRIERS -- LONG TERM CONTRACTING STANDARDS FOR RENEWABLE ENERGY

SB 318 establishes new procedures for Rhode Island to procure energy infrastructure, including transmission for nuclear power, large-scale hydroelectric power, and renewable resources like offshore wind. It authorizes state agencies and utilities to jointly issue competitive solicitations for regional transmission projects and natural gas pipeline capacity to improve energy reliability and security for ratepayers. The bill requires cost-benefit analyses for ratepayer impacts and mandates public utility commission review before binding commitments are made. This affects electric and gas utilities, ratepayers, and regional energy planning entities by creating a structured process for evaluating infrastructure projects.