A Bill for an Act
Page 1, Line 101Concerning the inclusion of nuclear energy as a source of
Page 1, Line 102clean energy.
Bill Summary
(Note: This summary applies to this bill as introduced and does not reflect any amendments that may be subsequently adopted. If this bill passes third reading in the house of introduction, a bill summary that applies to the reengrossed version of this bill will be available at http://leg.colorado.gov.)
The statutory definition of "clean energy" determines which energy projects are eligible for clean energy project financing at the county and city and county level. The statutory definition of "clean energy resource" determines which energy resources may be used by a qualifying retail utility to meet the 2050 clean energy target. The bill updates the 2 statutory definitions to include nuclear energy; except that for property valuations made for tax purposes, the bill exempts from the definition of "clean energy resource" nuclear energy generated by a public utility.
This Unofficial Version Includes Committee
Amendments Not Yet Adopted on Second Reading
Page 2, Line 1Be it enacted by the General Assembly of the State of Colorado:
Page 2, Line 2SECTION 1. Legislative declaration. (1) The general assembly
Page 2, Line 3finds that:
Page 2, Line 4(a) Colorado's estimated electricity peak demand is projected to
Page 2, Line 5double in the next 5 years;
Page 2, Line 6(b) The current path to eliminating greenhouse gas emissions in
Page 2, Line 7Colorado includes only the use of wind, geothermal, and solar power and
Page 2, Line 8battery storage;
Page 2, Line 9(c) Providing more options for generating electricity in Colorado
Page 2, Line 10will lead to a less expensive and a more reliable path to eliminating
Page 2, Line 11greenhouse gas emissions;
Page 2, Line 12(d) Advanced nuclear energy can produce higher quantities of
Page 2, Line 13clean energy with a smaller land footprint than other clean energy
Page 2, Line 14sources;
Page 2, Line 15(e) Small modular nuclear reactors can replace coal power plants
Page 2, Line 16while maintaining the number of jobs in the communities in which the
Page 2, Line 17coal power plants are located;
Page 2, Line 18(f) New designs for advanced nuclear reactors are being
Page 2, Line 19developed by entrepreneurial companies in the United States seeking to
Page 2, Line 20increase the value of nuclear technology within our energy system. It is
Page 2, Line 21estimated that the designs will be commercially operational this decade
Page 2, Line 22and will be ready for large-scale deployment by the 2030s to help meet
Page 2, Line 23domestic and global clean energy needs.
Page 2, Line 24(g) The development of a small modular reactor can create up to
Page 2, Line 25900 jobs lasting up to 4 years, as well as up to 300 permanent jobs;
Page 3, Line 1(h) Advancements in policy at the federal level, such as the
Page 3, Line 2bipartisan "Atomic Energy Advancement Act", H.R. 6544, will improve
Page 3, Line 3regulatory oversight of nuclear energy by prioritizing workforce training,
Page 3, Line 4environmental protections, and public safety, while reducing reliance on
Page 3, Line 5fossil fuels; and
Page 3, Line 6(i) Through recycling methods, up to 96% of the reusable material
Page 3, Line 7in spent fuel can be recycled.
Page 3, Line 8(2) The general assembly further finds that:
Page 3, Line 9(a) Coloradans care about clean energy; to that end, nuclear
Page 3, Line 10energy:
Page 3, Line 11(I) Is currently the single largest source of carbon-free electricity
Page 3, Line 12generation in the United States and around the world, with 94 nuclear
Page 3, Line 13reactors in the United States alone generating about 50% of the country's
Page 3, Line 14carbon-free electricity;
Page 3, Line 15(II) Does not produce carbon dioxide, thus offsetting carbon
Page 3, Line 16emissions; and
Page 3, Line 17(III) Should be included in the statutory definitions of "clean
Page 3, Line 18energy" and "clean energy resource";
Page 3, Line 19(b) In adding nuclear energy to the statutory definitions of "clean
Page 3, Line 20energy" and "clean energy resource", Colorado can continue to spearhead
Page 3, Line 21energy innovations that align with the state's goals of keeping energy
Page 3, Line 22affordable;
Page 3, Line 23(c) On its own, nuclear energy has a 92.7% capacity factor, which
Page 3, Line 24refers to the percentage of time that an electricity-generating source is
Page 3, Line 25able to generate electricity, and is a much higher capacity factor than for
Page 3, Line 26all other generation sources;
Page 3, Line 27(d) Because nuclear energy has such a high capacity factor,
Page 4, Line 1utilizing nuclear energy as a source of clean energy will help Colorado
Page 4, Line 2prevent future blackouts and brownouts;
Page 4, Line 3(e) Nuclear energy can be utilized in conjunction with existing
Page 4, Line 4clean energy sources to lower energy costs for Coloradans and maintain
Page 4, Line 5a reliable source of electricity;
Page 4, Line 6(f) Adding nuclear energy to the statutory definitions of "clean
Page 4, Line 7energy" and "clean energy resource" will attract continued public and
Page 4, Line 8private research funding for innovations in clean energy technology;
Page 4, Line 9(g) Due to current funding levels, nuclear reactor designs that help
Page 4, Line 10decarbonize hard-to-reach industries and locations already exist; and
Page 4, Line 11(h) New innovations such as microreactors would benefit rural
Page 4, Line 12areas by keeping the energy source serving those areas local.
Page 4, Line 13(3) Therefore, the general assembly declares that it is in the best
Page 4, Line 14interest of Colorado to add nuclear energy to the statutory definitions of
Page 4, Line 15"clean energy" and "clean energy resource".
Page 4, Line 16SECTION 2. In Colorado Revised Statutes, 30-20-1202, amend
Page 4, Line 17(2) as follows:
Page 4, Line 1830-20-1202. Definitions. As used in this part 12, unless the
Page 4, Line 19context otherwise requires:
Page 4, Line 20(2) "Clean energy" means energy derived from biomass, as
Page 4, Line 21defined in section 40-2-124 (1)(a)(I);
C.R.S.,Page 4, Line 22energy; small hydroelectricity;
andPage 4, Line 23nuclear energy projects awarded funding through the United
Page 4, Line 24States department of energy's advanced nuclear reactor
Page 4, Line 25programs; wind energy;
as well as anyanyPage 4, Line 26
offoregoingPage 4, Line 27SECTION 3. In Colorado Revised Statutes, 40-2-125.5, amend
Page 5, Line 1(2)(b) as follows:
Page 5, Line 240-2-125.5. Carbon dioxide emission reductions - goal to
Page 5, Line 3eliminate by 2050 - legislative declaration - interim targets -
Page 5, Line 4submission and approval of plans - definitions - cost recovery -
Page 5, Line 5reports - rules. (2) Definitions. As used in this section, unless the
Page 5, Line 6context otherwise requires:
Page 5, Line 7(b) (I) "Clean energy resource" means any electricity-generating
Page 5, Line 8technology that generates or stores electricity without emitting carbon
Page 5, Line 9dioxide into the atmosphere.
Page 5, Line 10(II) "Clean energy
resources" include, without limitation,Page 5, Line 11resource" includes:
Page 5, Line 12(A) Eligible energy resources as defined in section 40-2-124
Page 5, Line 13(1)(a); and
Page 5, Line 14(B) Nuclear energy, including nuclear energy projects
Page 5, Line 15awarded funding through the United States department of
Page 5, Line 16energy's advanced nuclear reactor programs.
Page 5, Line 17SECTION 4. In Colorado Revised Statutes, 39-4-101, amend
Page 5, Line 18(2.4) as follows:
Page 5, Line 1939-4-101. Definitions. As used in this article 4, unless the context
Page 5, Line 20otherwise requires:
Page 5, Line 21(2.4) (a) Except as provided in subsection (2.4)(b) of this
Page 5, Line 22section, "clean energy resource" has the same meaning as set forth in
Page 5, Line 23section 40-2-125.5 (2)(b).
Page 5, Line 24(b) "Clean energy resource", for purposes of property
Page 5, Line 25taxation under this section, does not include nuclear energy.
Page 5, Line 26SECTION 5. In Colorado Revised Statutes, add 40-2-140 as
Page 5, Line 27follows:
Page 6, Line 140-2-140. Nuclear energy studies - funding through rate
Page 6, Line 2adjustments or deferred accounting. (1) To expand and diversify
Page 6, Line 3clean energy resources in the state and to advance
Page 6, Line 4opportunities related to the potential siting of nuclear energy
Page 6, Line 5facilities, a public utility regulated by the commission may
Page 6, Line 6submit to the commission, and the commission shall approve, an
Page 6, Line 7application to expend and recover up to fifteen million dollars
Page 6, Line 8to finance studies regarding potential sites, facility designs,
Page 6, Line 9and other activities related to the development of nuclear
Page 6, Line 10energy in the state.
Page 6, Line 11(2) A public utility shall recover study expenditures
Page 6, Line 12approved pursuant to subsection (1) of this section through an
Page 6, Line 13existing rate adjustment mechanism that is associated with the
Page 6, Line 14cost of generating capacity or through deferred accounting
Page 6, Line 15treatment for which the deferred expenditures are recoverable
Page 6, Line 16in the first rate case submitted after the completion of the
Page 6, Line 17studies.
Page 6, Line 18SECTION 6. Act subject to petition - effective date. This act
Page 6, Line 19takes effect at 12:01 a.m. on the day following the expiration of the
Page 6, Line 20ninety-day period after final adjournment of the general assembly; except
Page 6, Line 21that, if a referendum petition is filed pursuant to section 1 (3) of article V
Page 6, Line 22of the state constitution against this act or an item, section, or part of this
Page 6, Line 23act within such period, then the act, item, section, or part will not take
Page 6, Line 24effect unless approved by the people at the general election to be held in
Page 6, Line 25November 2026 and, in such case, will take effect on the date of the
Page 6, Line 26official declaration of the vote thereon by the governor.