Connecticut General Statutes 16-243g – Assignment of electricity purchase agreements
Notwithstanding any provision of the general statutes or of any special act to the contrary, no electric distribution company, as defined in § 16-1, municipal electric energy cooperative established under chapter 101a or municipal electric utility established under chapter 101 which has entered into a contract to purchase electricity from a private power producer, as defined in § 16-243b, shall refuse or neglect to execute an assignment of an electricity purchase agreement or contract to a trustee as security for or protection of bonds issued to refinance outstanding bonds originally issued or reissued to finance the major portion of the costs of the acquisition, construction and installation of a private power production facility, as defined in § 16-243b.
Terms Used In Connecticut General Statutes 16-243g
- Contract: A legal written agreement that becomes binding when signed.
- distribution company: means any person providing electric transmission or distribution services within the state, but does not include: (A) A private power producer, as defined in §. See Connecticut General Statutes 16-1
- Private power producer: means (A) a subsidiary of a gas public service company which is not affiliated with an electric public service company, or a subsidiary of a holding company controlling, directly or indirectly, a gas public service company but not an electric public service company, which generates electricity solely through ownership of fifty per cent or less of a private power production facility or, with the approval of the Public Utilities Regulatory Authority, through ownership of one hundred per cent of a private power production facility which (i) uses a source of energy other than gas as the primary energy source of the facility, or (ii) uses gas as the primary energy source of the facility and uses an improved and innovative technology which furthers the state energy policy as set forth in §. See Connecticut General Statutes 16-243b
- Private power production facility: means a facility which generates electricity in the state (A) solely through the use of cogeneration technology, provided the average useful thermal energy output of the facility is at least twenty per cent of the total energy output of the facility, (B) solely through the use of renewable energy sources, or (C) through both only. See Connecticut General Statutes 16-243b
- Trustee: A person or institution holding and administering property in trust.