IPA-HYDROELECTRIC PROCUREMENT

Amends the Illinois Power Agency Act. Provides that the Illinois Power Agency is authorized to oversee the procurement by electric utilities that serve more than 3,000,000 customers in the State as of January 1, 2019 of renewable energy credits from new, newly modernized, or retooled hydroelectric facilities. Provides that the long-term renewable resources procurement plan shall prioritize compliance with the new wind, new photovoltaic, and hydroelectric procurement requirements (rather than the new wind and new photovoltaic procurement requirements). Provides that the Agency shall not comply with the annual percentage targets of the long-term renewable resources procurement plan by procuring renewable energy credits that are unlikely to lead to the development of new renewable resources or modernized or retooled hydroelectric resources (rather than the development of new renewable resources). Provides that the Agency shall consider other approaches, in addition to competitive procurements, to procure renewable energy credits from new and existing hydroelectric facilities to support the development and maintenance of these facilities. Provides that on and after the effective date of the amendatory Act, for all procurements of renewable energy credits from hydroelectric facilities, the Agency shall establish contract terms designed to optimize existing hydroelectric facilities through modernization or retooling. Provides that procurement of renewable energy credits from hydroelectric facilities shall comply with specified geographic requirements. Makes a change in provisions concerning definitions.