DENVER – State Rep. Jon Becker’s House Bill 1262 was signed into law today by Gov. John Hickenlooper. The measure ensures transparency in the acquisition of power generation resources and promotes fairness in electric utility competitive bidding processes.
“As a legislator representing a district where energy is critical for everyone from small businesses to local farms, I understand how important energy at a fair price is for Coloradans,” said Becker, R-Fort Morgan.
This law directs the Colorado Public Utilities Commission to publicize rules regarding information that must be provided by investor-owned utilities to electric generation facility owners.
Specifically, the bill requires that facility owners have access to any relevant modeling and assumptions used by the investor-owned utilities in resource acquisition bidding. The bill safeguards to ensure that confidential information is not compromised.
“This bill makes sure that all the details in an acquisition of an energy facility are as transparent as possible without risking the safety of the facility,” said Becker. “With the complex nature of energy facility acquisitions, everyone involved in the process will have the information needed so there is fair competition, which will lead to lower energy rates for Coloradans.”
HB 1262 passed the General Assembly unanimously.
The bill immediately went into effect with the governor’s signature.
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