Stand. Comm. Rep. No. 890-12 H.B. No. 2690, H.D. 2 RELATING TO GEOTHERMAL RESOURCES.(Geothermal Resources; Exploration; Subzones) AS AMENDED, PASS THIRD READING.
The purpose of the bill is to provide electric utilities in Hawaii with a way to mitigate imputed debt associated with long-term power-purchase agreements, by authorizing the PUC to allow electric utility companies to recover all power purchase costs from long-term power purchase agreements.
The bill follows the energy initiatives of the Governor’s New Day Plan by further aligning the State’s electric utilities’ success with Hawaii’s clean energy goals. Bill will give Hawaii utilities a stronger economic foundation for pursuing renewable energy and other electricity generation projects.

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