§ 39-26.1-4 - Financial remuneration and incentives. - Rhode Island Statutes

SECTION 39-26.1-4

   § 39-26.1-4  Financial remuneration andincentives. – In order to achieve the purposes of this chapter, electric distributioncompanies shall be entitled to financial remuneration and incentives forlong-term contracts for newly developed renewable energy resources, which areover and above the base rate revenue requirement established in its cost ofservice for distribution ratemaking. Such remuneration and incentives shallcompensate the electric distribution company for accepting the financialobligation of the long-term contracts. The financial remuneration andincentives described in this subsection shall apply only to long-term contractsfor newly developed renewable energy resources. The financial remuneration andincentives shall be in the form of annual compensation, equal to two and threequarters percent (2.75%) of the actual annual payments made under the contractsfor those projects that are commercially operating.