UTIL-TIME-OF-USE PRICING

Amends the Illinois Power Agency Act. Authorizes the Illinois Power Agency to develop capacity procurement plans and conduct competitive procurement processes for the procurement of capacity needed to ensure environmentally sustainable long-term resource adequacy across the State at the lowest cost over time. Amends the Public Utilities Act. Changes the cumulative persisting annual savings goals for electric utilities that serve less than 3,000,000 retail customers but more than 500,000 retail customers for the years of 2024 through 2030. Provides that the cumulative persisting annual savings goals beyond the year 2030 shall increase by 0.9 (rather than 0.6) percentage points per year. Changes the requirements for submitting proposed plans and funding levels to meet savings goals for an electric utility serving more than 500,000 retail customers (rather than serving less than 3,000,000 retail customers but more than 500,000 retail customers). Provides that an electric utility that has a tariff approved within one year of the amendatory Act shall also offer at least one market-based, time-of-use rate for eligible retail customers that choose to take power and energy supply service from the utility. Sets forth provisions regarding the Illinois Commerce Commission's powers and duties related to residential time-of-use pricing. Provides that the Illinois Power Agency shall conduct capacity procurement events to procure a target portion of capacity towards the Planning Reserve Margin Requirement for all Load Serving Entities serving customers within the Applicable Local Resource Zone and a target portion of capacity towards the PJM Region Reliability Requirement for Load Serving Entities serving customers within the Applicable Locational Deliverability Area. Provides that each capacity procurement event may include the procurement of capacity through a mix of contracts with different terms and different initial delivery dates. Sets forth the requirements of prepared capacity procurement plans. Requires each alternative electric supplier to make payment to an applicable electric utility for capacity, receive transfers of capacity credits, report capacity credits procured on its behalf to the applicable regional transmission organization, and submit the capacity credits to the applicable regional transmission organization under that regional transmission organization's rules and procedures. Makes other changes.