67-8926. CONSERVATION MEASURES. (1) For purposes of this section:

(a) "Conservation" means a reduction in electric power consumption as a result of increases in the efficiency of energy use, production or distribution;

(b) "Conservation measure" means an action, property, facility, equipment, improvement, system or measure to promote conservation that provides a conservation resource that is acquired by a participating utility pursuant to the pacific northwest electric power planning and conservation act, 16 U.S.C. section 839 et seq., including, but not limited to, loans and grants to consumers for insulation, weatherization, increased system efficiency and waste energy recovery by direct application;

(c) "Conservation resource" means actual or planned reductions in electric demand or consumption as a result of one (1) or more conservation measures; and

(d) "Participating utility" means only a federal agency that is a participating utility described in section 67-8903(8)(b), Idaho Code.

(2) The authority may, under such terms and conditions as are approved by the authority:

(a) Issue bonds to finance or refinance the cost of conservation measures, thereby giving rise to conservation resources that are acquired by a participating utility;

(b) Pledge as security for the bonds payments to be made by a participating utility for its acquisition of conservation resources or other payments to be received in connection with the conservation resources or the associated conservation measures; and

(c) Enter into contracts and agreements, including grant agreements, between or among the authority, a participating utility, any of the customers served by the participating utility and other persons or entities in connection with the acquisition of conservation resources by a participating utility, the financing or refinancing of conservation measures, the funding, implementation, management or administration of conservation measures, or the administration of funds, including the proceeds of bonds and other moneys relating to conservation resources and conservation measures.

(3) Bonds issued pursuant to this section shall be issued in accordance with sections 67-8915 through 67-8918, Idaho Code, and shall be subject to all provisions of this act applicable to bonds issued by the authority; provided that:

(a) Conservation resources and conservation measures shall not be considered to be a facility, other than for purposes of section 67-8903(8), Idaho Code; and

(b) The authority shall not own conservation measures, which may be owned by or on behalf of any other person or entity.

(4) It is hereby determined and declared that all actions taken by the authority pursuant to this section are in furtherance of the purposes of this act, and will promote and achieve conservation of natural resources, efficiencies and economies of scale. This section is supplemental to the other provisions of this act and shall be liberally construed to effectuate the financing of conservation measures by the authority.

History:

[67-8926, added 2015, ch. 59, sec. 3, p. 163.]