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Renewable account management

Published (4/27/2012)
By Bob Geiger
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A new law clarifies oversight of an account by the Public Utilities Commission, which approves renewable energy grants and removes $5 million a year from the University of Minnesota’s Initiative for Renewable Energy & the Environment.

Xcel Energy pays $19.5 million a year into the renewable account. Payment into the account is based on the number of nuclear fuel casks stored near the utility’s Monticello and Prairie Island nuclear power plants. It has paid more than $180 million into the fund since 1999.

Sponsored by Rep. Mike Beard (R-Shakopee) and Sen. Julie Rosen (R-Fairmont), the new law is effective April 24, one day after it was signed by Gov. Mark Dayton.

The law specifies that renewable account funds be spent to increase market penetration of renewable energy; promote the start-up, expansion of renewable energy projects; stimulate research and development of renewable electric technology; and develop renewable electric and infrastructure projects that enhance delivery of renewable energy.

The law specifies that the account is to be managed by Xcel, which must consult with an advisory group representing Xcel ratepayers and other interests determined by the commission. While Xcel can apply for a grant, an independent third-party must evaluate grant applications. Xcel must attempt to reach agreement with the advisory group regarding projects to be funded, but has sole authority to make funding recommendations to the commission.

HF2650/ SF2181*/CH196

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