Bill To Help Consumers Affected By Retired Power Plants

A bill has been introduced in the Colorado House of Representatives that would provide relief to electric utility customers and local communities, when a power plant is retired. The Colorado Energy Impact Assistance Act would allow privately owned electric utility companies to apply for financing through a Public Utility Commission, to fund energy impact assistance bonds for customers in affected areas. The company could then use the bonds to cover expenses related to the power plant closure to prevent these costs from being passed to the consumer. A portion of the bond proceeds will also go towards transition assistance for workers and communities directly affected by the retirement of a power plant. Transition assistance includes paying the cost of apprenticeship and retraining programs for Colorado workers displaced by the power plant closure. Before financing is approved, the Public Utility Commission will have to host public hearings to gather testimony from the affected communities.

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