§ 39-31-3 — § 39-31-3. Commercially reasonable defined.

§ 39-31-3. Commercially reasonable defined.

When used in this chapter, "commercially reasonable� means terms and pricing that are reasonably consistent with what an experienced power market analyst would expect to see in transactions involving regional energy resources and regional energy infrastructure. Commercially reasonable shall include having a credible project operation date, as determined by the commission, but a project need not have completed the requisite permitting process to be considered commercially reasonable. Commercially reasonable shall require a determination by the commission that the benefits to Rhode Island exceed the cost of the project. The commission shall determine, based on the preponderance of the evidence, that the total energy security, reliability, environmental, and economic benefits to the state of Rhode Island and its ratepayers exceed the costs of such projects. If there is a dispute about whether any terms or pricing are commercially reasonable, the commission shall make the final determination after evidentiary hearings.

Legislative History

P.L. 2014, ch. 424, § 1; P.L. 2014, ch. 477, § 1.