This bill directs the Federal Energy Regulatory Commission (the Commission) to create a shared savings incentive for investments in grid-enhancing technology (GETs). GETs are hardware or software added to transmission systems to increase capacity, efficiency, reliability, resilience, or safety, or to give operators more control or situational awareness. The Commission must issue a final rule within 18 months to return a fixed percentage of savings from an eligible GET investment to the developer who paid to install it. That percentage must be the same for all eligible investments, be between 10% and 25%, and be returned over 3 years. The incentive only applies if the Commission determines that expected savings over 3 years are at least 4 times the investment cost. The incentive cannot apply to GETs already installed before enactment. The Commission must set consumer protections and will evaluate the incentive between 7 and 10 years after it is established, allowing public comment and considering alignment with Order No. 1920.
The bill also requires annual congestion-cost reports from all transmission operators. The Commission must create a uniform metric and reporting protocol within 18 months. One year after that rule takes effect, operators must begin filing annual reports that identify costly constraints (those causing more than $500,000 in costs), their causes, and what planned upgrades will address them. The Commission and the Secretary of Energy (the Secretary) must use the data for analyses, produce an annual map of congestion costs, and publish the data and map on their websites.
Finally, the Secretary must publish an application guide for utilities and developers on GETs within 18 months, update it yearly, provide technical assistance on request, and create a clearinghouse of completed GET projects. The bill authorizes $5,000,000 for FY2025 and $1,000,000 per year for FY2026–2036 to carry out the guide provision.
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