RENEWABLE ELECTRICITY RESOURCE

Provides that the amendatory Act may be referred to as the Illinois Renewable Electricity Resources Act. Amends the Illinois Power Agency Act. Defines "bundled renewable energy resources", "delivery services", "delivery services non-eligible retail customers", "excluded renewable energy resources contract costs", and "service area". Provides that procurement plans for periods beginning on or after June 1, 2012 shall include procurement of renewable energy credits in amounts projected to be sufficient to meet the renewable energy resources standard with respect to the kilowatthour usage of delivery services non-eligible retail customers. Provides that the Illinois Power Agency Renewable Energy Resources Fund shall be terminated upon depletion of all its funds through the purchase of renewable energy credits. Makes changes to provisions concerning the renewable portfolio standard. Makes other changes. Amends the Public Utilities Act. Provides that beginning on June 1, 2012, an electric utility shall be entitled to recover through its tariffed charges for delivery services the costs of any renewable energy credits purchased to meet certain renewable energy resource standards under the Illinois Power Agency Act and any excluded renewable energy resources contract costs as defined under the Illinois Power Agency Act. In a provision concerning renewable portfolio standards for alternative retail electric suppliers and electric utilities operating outside their service territories, provides that until May 31, 2012 an alternative retail supplier shall be responsible for procuring cost-effective renewable energy resources as required under the Act (previously, no date cut-off for the requirement). Provides that certain obligations of alternative electric suppliers and electric utilities operating outside their service territories and certain obligations of the Commission shall terminate effective May 31, 2012, provided, that the alternative electric suppliers and electric utilities operating outside their service territories shall be obligated to make all alternative compliance payments that they were obligated to pay for periods through and including May 31, 2012, but were not paid as of that date. Makes other changes. Includes a severability provision. Effective immediately.