SB64: An Act To Amend Title 7 Of The Delaware Code Relating To Regional Greenhouse Gas Initiative And Co2 Emissions Trading Program Auction Proceeds.

Legislative Summary

Subchapter 11-A of Title 7 delineates the Regional Green House Gas initiative, including where proceeds from C02 allowance auctions shall be expended. This Act fixes the overall amount of proceeds directed to purposes currently in the Delaware Code to 2025 levels and instructs DNREC that any auction proceeds above 2025 levels be directed to a rebate program to defray the cost of electricity to ratepayers. Under this Act, Delmarva Power and Light would receive the rebate amounts and be required to distribute those proceeds in the form of electric bill reeducations to retail electric customers.