Electric utility regulation; mandatory renewable energy portfolio standard.

Electric utilities; mandatory renewable energyportfolio standard. Replaces the existing voluntary renewableenergy portfolio standard (RPS) program with a mandatory renewableenergy portfolio standard program that requires each electric utilityto generate or purchase increasing percentages of electric powerthat is generated from renewable energy sources. The required percentagesstart at 14 percent of the total electric energy sold in 2021. Thereafterthe required percentages increase in steps until 2050 and thereafter,in which years 100 percent of the total electric energy sold is requiredto be renewable energy. The measure also requires that the sourcesof renewable energy be derived from one of several tiers, with requiredpercentages varying over time. A utility that fails to comply withan RPS standard established for a year is required to pay a deficiencypayment. The moneys paid as deficiency payments will be distributedby the Department of Mines, Minerals and Energy to programs for low-income,disability, veteran, and age-qualifying energy efficiency programsand renewable energy programs, energy efficiency measures for publicfacilities, and administrative costs. The measure also requires theState Corporation Commission to implement an energy storage deploymenttarget of 2,400 megawatts by 2035.