Amend the bill by striking out everything after the enacting clause and before the summary and inserting the following:
‘Sec. 1. 35-A MRSA §3210, sub-§9, as amended by PL 2011, c. 637, §1, is further amended to read:
This amendment, which is the minority report, strikes the bill and instead allows the Public Utilities Commission, when it determines that electricity supply prices are at historically high levels, to set the alternative compliance payment rate for new renewable capacity resources at a level that reduces higher revenue for generators of new renewable capacity resources. The amendment also specifies that if the annualized average standard offer electricity supply pricing for residential customers is 10¢ per kilowatt hour or higher, the commission must reduce the alternative compliance payment rate by 100%, which has the effect of suspending the renewable portfolio requirement.