authorizing a reliability indexing credit pilot program.

SB 111 establishes a pilot program allowing New Hampshire electric utilities to buy reliability indexing credits from qualified local energy storage systems (like batteries) to support grid reliability. The program would pay storage providers the difference between a set "strike price" and a daily "reference price" reflecting wholesale market value - paying them when the strike price is higher, and charging them when the reference price is higher. Utilities must get approval from the Public Utilities Commission for multi-year agreements (up to 200 megawatts) and recover costs through customer rates. The Department of Energy must develop program terms by December 2025, with utilities petitioning for approval by February 2026. This pilot aims to incentivize storage participation without direct state funding.