It is enacted by the General Assembly as follows:

SECTION 1. Section 39-1-27.1 of the General Laws in Chapter 39-1 entitled "Public Utilities Commission" is hereby amended to read as follows:

39-1-27.1. Retail electric licensing commission plan requirements and nonregulated power producer registration requirements -- (a) The retail electric licensing commission shall by January 1, 1997 submit a plan to the legislature which shall include, but not be limited to, the following:

(1) A recommendation for taxing and/or assessing electric distribution companies, electric transmission companies and nonregulated power producers;

(2) Recommendations regarding changes to the regional power pool that would facilitate the creation of an independent system operator and voluntary power exchange; and

(3) Proposals for consumer protections, access to books and records, and other requirements the retail electric licensing commission determines to be reasonable, necessary and in the public interest.

(b) (1) On or before January 1, 1997, the public utilities commission shall establish regulations applicable to nonregulated power producers that are selling electricity in this state that are necessary to meet (directly or through contract) the operating and reliability standards of the regional power pool.

(2) In addition, the public utilities commission shall participate in all proceedings before the federal energy regulatory commission with respect to the modification and/or termination of wholesale all requirements contracts in place as of January 1, 1996, between electric distribution companies operating in this state and their affiliated power suppliers. The purpose of such participation is to ensure that termination fees payable by ultimate customers in this state are determined in accordance with the provisions of section 39-1-27.4. To facilitate such participation, the public utilities commission is authorized to assess electric distribution companies under its jurisdiction for its reasonable expenses incurred in connection with its participation in those proceedings, up to a maximum of one hundred thousand dollars ($100,000) per year, which assessments shall be in addition to all other assessments authorized by this title.

(3) On January 1, 1998, and annually for the next four (4) years thereafter, the public utilities commission shall transmit to the governor and the speaker of the house and the majority leader of the senate, a report detailing: developments in the competitive power supply market in this state; estimated savings realized by customers as a result of the introduction of retail competition in the power supply market; progress towards implementation of a regional transmission agreement for New England and other reforms implemented by the regional power pool; and the status of electric industry restructuring activities in the other New England states and any recommendations for statutory changes.

(c) All nonregulated power producers seeking to do business in this state must file with the division of public utilities and carriers a notarized registration application that includes the information identified below and any additional information required by the division of public utilities and carriers pursuant to regulations issued to protect the public interest in connection with the registration of entities seeking to sell electricity at retail:

(1) Legal name;

(2) Business address;

(3) The name of the state where organized; the date of organization; a copy of the articles of incorporation, association, partnership agreement, or other similar document regarding legal organization;

(4) Name and business address of all officers and directors, partners; or other similar officials;

(5) Name, title, and telephone number of customer service contact person;

(6) Name, title, and telephone number of regulatory contact person;

(7) Name, title and address of registered agent for service of process;

(8) Brief description of the nature of business being conducted; and

(9) Evidence of financial soundness such as surety bonds, a recent financial statement, or other mechanism as specified by the division.

(d) Copies of all filings pursuant to subsection (c), shall be served upon the commission and all electric distribution companies. Updated information shall be filed within ten (10) days of any change to the information included in a registration application, as filed or previously updated. Registration applications filed pursuant to subsection (c), shall become effective thirty (30) days after filing with the division, unless rejected during the thirty (30) day period. If the division should reject a registration application, it shall specify the applicable reasons in writing and, if practicable, identify alternative ways to overcome any deficiencies. After an opportunity of a hearing, the division may rescind a nonregulated power producer's registration for cause. Nonregulated power producers shall be authorized to do business in this state after their registration becomes effective and while it remains in good standing.

SECTION 2. This act shall take effect upon passage.