(1) In this section: (a) “Electric public utility” means a public utility whose purpose is the generation, distribution and sale of electric energy. (b) “Electronics and information technology manufacturing zone” means a zone designated under s. 238.396 (1m). (2) (bm) Except as provided in par. (br), the commission shall approve market-based rates for each investor-owned electric public utility that satisfy all of the following: 1. The rates result in customers receiving market-based compensation for voluntary interruptions of firm load during peak periods of electric use. 2. The rates include market-based pricing options and options for individual contracts that allow a retail customer, through service from its existing public utility, to receive market benefits and take market risks for the customer’s purchases of capacity or energy. (br) The commission may not approve a market-based rate under par. (bm) unless the commission determines that the rate will not harm shareholders of the investor-owned electric public utility or customers who are not subject to the rate. (c) Subject to any approval of the commission that is necessary, an electric public utility that is not an investor-owned electric public utility may implement market-based rates approved under par. (bm). (2m) (a) No later than January 1, 2020, an electric public utility providing service to an electronics and information technology manufacturing zone shall file with the commission tariffs that include market-based pricing and options that allow a new retail customer that is within the electronics and information technology manufacturing zone and that the commission determines is eligible for a credit under s. 71.07 (3wm) to receive market benefits and take market risks for some or all of the customer’s purchases of capacity or energy, subject to the maximum capacity or energy purchase limits that shall be established by the commission. The electric public utility shall include the following requirements in the tariffs: 1. The customer shall annually nominate the amount of capacity and energy subject to the market-based tariff. 2. The customer shall provide not less than 12 months’ notice to terminate service under the market-based tariff. 3. The term of the market-based tariff may not be less than 10 years. 4. The customer shall pay the difference, if any, between the otherwise applicable retail rate and the market-based tariff rate if the customer does any of the following: a. Supplies false or misleading information regarding its applicability for the market-based tariff. b. Leaves the electronics and information technology manufacturing zone to conduct substantially the same business outside the electronics and information technology manufacturing zone. c. Ceases operations in the electronics and information technology manufacturing zone and does not renew operation of the business or a similar business within the electronics and information technology manufacturing zone within 12 months. (b) The commission shall approve market-based rates that are consistent with par. (a). (3m) Nothing in s. 196.20, 196.22, 196.37, 196.60 or 196.604 prohibits the commission from approving a filing under sub. (2m) (a) or approving market-based rates under sub. (2) (bm) or (2m) (b).
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