H.R.4059 - Rural Clean Energy Superhighways Act110th Congress (2007-2008)
Summary: H.R.4059 — 110th Congress (2007-2008)
Introduced in House (11/01/2007)
Rural Clean Energy Superhighways Act - Amends the Federal Power Act to direct the President to designate an area as a National Renewable Energy Zone if it meets specified prerequisites.
Requires the President, after such designation, to identify, and provide public notice of, additional renewable energy trunkline facilities and network upgrades required to increase substantially the generation of electricity from renewable energy within each Zone.
Directs the Federal Energy Regulatory Commission (FERC) to promulgate regulations to ensure that a public utility that finances transmission capacity to transmit electricity from renewable energy from a Zone to an electricity consuming area recovers through transmission service rates all prudently incurred costs and a reasonable return on equity associated with construction and operation of the new transmission capacity.
Directs FERC, in specified circumstances, to permit a renewable energy trunkline built by a public utility located in a Zone to be initially funded through transmission charges imposed upon: (1) all the utility's transmission customers in advance of significant generation interconnection requests; or (2) all the transmission customers of a Regional Transmission Organization (RTO) or independent system operator, if the trunkline is built in an area served by one or the other.
Prescribes cost allocation procedures for new projects and network upgrades.
Requires a Federal Transmitting Utility (a Federal Power Marketing Administration, including the Tennessee Valley Authority (TVA), that owns or operates electric transmission facilities) to finance a network upgrade or a renewable energy trunkline facility, if within a certain time frame no privately or publicly funded entity commits to do so.
Authorizes the deposit of specified funds in a Transmission Fund in the Treasury for expenditure by the Secretary of Energy in financing network upgrades or trunkline facilities.
Requires the Federal Power Marketing Administrations and TVA to: (1) promote energy conservation and renewable energy electric resource development; and (2) identify opportunities for promoting development of facilities generating electricity from renewable energy on Indian lands.
Authorizes each such entity to acquire, on behalf of the U.S. government, electricity from renewable energy and renewable energy credits.