131st MAINE LEGISLATURE
		LD 1724		LR 2046(03)
	An Act to Enact the Beneficial Electrification Policy Act
	Fiscal Note for Bill as Engrossed with: C "A" (S-357)
	Committee: Energy, Utilities and Technology
Fiscal Note
			FY 2023-24	FY 2024-25	Projections  FY 2025-26	Projections  FY 2026-27
Appropriations/Allocations
	Other Special Revenue Funds		$202,042	$0	$0	$0
Revenue
	Other Special Revenue Funds		$202,042	$0	$0	$0
Fiscal Detail and Notes
	This bill establishes a beneficial electrification policy for the State. The bill defines beneficial electrification, allows the Governor's Energy Office (GEO) to petition the Public Utilities Commission (PUC) for renewable energy procurement, directs the Efficiency Maine Trust (EMT) to develop a 3-year beneficial electrification plan to be included in its triennial plan and requires additional monitoring and reporting on beneficial electrification activities in support of the policy's established goals.
	The bill includes a one-time allocation of $202,042 in fiscal year 2023-24 to the PUC for contracted consulting services. Since the PUC is funded by assessments on impacted utilities set to produce sufficient revenue for the expenditures needed to operate it, the increased allocations require a corresponding increase in revenue from those assessments.
	The bill allows the GEO and the EMT to request transfers of funds from the PUC Regulatory Fund or the PUC Reimbursement Fund to pay for expenditures related to a petition for procurement of energy from renewable resources, in the case of the GEO, and for expenditures related to the implementation of the 3-year beneficial electrification plan, in the case of the EMT.