SF 495

as introduced - 87th Legislature (2011 - 2012) Posted on 02/23/2012 08:44am

A bill for an act
relating to energy; regulating projects funded by renewable development
account; amending Minnesota Statutes 2010, section 116C.779, subdivision 1.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2010, section 116C.779, subdivision 1, is amended to
read:

Subdivision 1.

Renewable development account.

(a) The public utility that owns
the Prairie Island nuclear generating plant must transfer to a renewable development
account $500,000 each year for each dry cask containing spent fuel that is located at the
Prairie Island power plant for each year the plant is in operation, and $7,500,000 each
year the plant is not in operation if ordered by the commission pursuant to paragraph (d).
The fund transfer must be made if nuclear waste is stored in a dry cask at the independent
spent-fuel storage facility at Prairie Island for any part of a year. Funds in the account
may be expended only for development of renewable energy sources. deleted text begin Preference deleted text end new text begin Projects
new text end must be deleted text begin given to development of renewable energy source projects deleted text end located within the
deleted text begin state deleted text end new text begin service territory of the public utility, unless the commission finds that a project
located outside the service territory would provide significantly more benefits to the public
utility's ratepayers than a competing project located within the service territory new text end . The utility
that owns a nuclear generating plant is eligible to apply for renewable development fund
grants. The utility's proposals must be evaluated by the renewable development fund
board in a manner consistent with that used to evaluate other renewable development fund
project proposals.

(b) The public utility that owns the Monticello nuclear generating plant must transfer
to the renewable development account $350,000 each year for each dry cask containing
spent fuel that is located at the Monticello nuclear power plant for each year the plant is
in operation, and $5,250,000 each year the plant is not in operation if ordered by the
commission pursuant to paragraph (d). The fund transfer must be made if nuclear waste
is stored in a dry cask at the independent spent-fuel storage facility at Monticello for
any part of a year.

(c) Expenditures from the account may only be made after approval by order of the
Public Utilities Commission upon a petition by the public utility.

(d) After discontinuation of operation of the Prairie Island nuclear plant or the
Monticello nuclear plant and each year spent nuclear fuel is stored in dry cask at the
discontinued facility, the commission shall require the public utility to pay $7,500,000 for
the discontinued Prairie Island facility and $5,250,000 for the discontinued Monticello
facility for any year in which the commission finds, by the preponderance of the evidence,
that the public utility did not make a good faith effort to remove the spent nuclear
fuel stored at the facility to a permanent or interim storage site out of the state. This
determination shall be made at least every two years.