POWER AG-ENERGY CREDIT TARGET

Amends the Illinois Power Agency Act. Makes legislative declarations and findings concerning the deployment of energy storage systems. Provides that the Illinois Power Agency has the power to conduct competitive solicitations to procure energy storage resources and conduct procurement events by which electric utilities execute contracts to purchase energy storage resources. Provides that the Agency shall develop a storage procurement plan that results in the electric utilities contracting for energy storage capacity from contracted energy storage systems. Provides that the Agency shall develop a storage procurement plan that results in the electric utilities contracting for energy storage resources from contracted energy storage systems in specified amounts. Provides that within 180 days of the effective date of the amendatory Act, the Agency shall develop an energy storage procurement plan. Provides that for all procurements of energy storage resources, the Agency shall direct respondents to offer a strike price. Authorizes the Agency to develop and implement a firm energy resource procurement plan. Provides that no later than December 31, 2026 and every 2 years thereafter, the Agency shall conduct an analysis to determine whether the contracted quantity of energy storage in energy storage capacity and energy storage duration is sufficient to support the State's renewable energy standards and carbon emission standards. Defines terms. Makes corresponding changes in the Public Utilities Act. Effective immediately.