BOSTON (AP) — State senators plan to take up a multi-faceted energy bill later this week aimed at controlling electricity costs in Massachusetts while continuing to promote growth in renewable power sources.
WBZ NewsRadio 1030′s Kim Tunnicliffe reports.
Senate President Therese Murray has scheduled a vote for the bill on Thursday.
The measure, endorsed last week by a legislative committee, requires competitive bidding for long-term renewable energy contracts and increases the percentage of so-called green power that utilities must purchase.
Backers of the bill also say it will end “sweetheart” deals by reducing from 4 percent to 1 percent the guaranteed investment return that utilities receive from renewable energy contracts.
The legislation also calls for more frequent rate reviews by state regulators and, if necessary, would spread out rate increases over longer periods of time.
Copyright 2012 The Associated Press.