§269-92 Renewable portfolio standards. Each electric utility company that sells electricity for consumption in the State shall establish a renewable portfolio standard of:
(1) Seven per cent of its net electricity sales by December 31, 2003;
(2) Eight per cent of its net electricity sales by December 31, 2005;
(3) Ten per cent of its net electricity sales by December 31, 2010;
(4) Fifteen per cent of its net electricity sales by December 31, 2015; and
(5) Twenty per cent of its net electricity sales by December 31, 2020.
The public utilities commission shall determine if an electric utility company is unable to meet the renewable portfolio standards in a cost-effective manner, or as a result of circumstances beyond its control which could not have been reasonably anticipated or ameliorated. If this determination is made, the electric utility company shall be relieved of responsibility for meeting the renewable portfolio standard for the period of time that it is unable to meet the standard. [L 2001, c 272, §3; am L 2004, c 95, §5]