IL POWER AG-HYDROELECTRIC

Amends the Illinois Power Agency Act. Provides that the Illinois Power Agency is authorized to oversee the procurement by electric utilities of renewable energy credits from new, newly modernized, or retooled hydropower facilities in accordance with the planning and procurement provisions of the Act. 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. Provides that all new, newly modernized, or retooled hydropower facilities shall be subject to the prevailing wage requirements included in the Prevailing Wage Act. Makes a change in provisions concerning definitions.