Section 11F of Chapter 25A of the General Laws is amended by adding after subsection (i), a new subsection:- subsection (j):

       (j) (1) There shall be a renewable energy standard for energy from Class I renewable energy generating sources that (i) first begins commercial operation on or after January 1, 2010; (ii) has a summer capacity factor greater than seventy percent (70%), as determined by the ISO-NE rules, as they may change from time to time, and (iii) otherwise meets the requirements of subsection (2) below (the “Baseload Low Cost Renewable Energy Standard”).  The Baseload Low Cost Renewable Energy Standard shall be in addition to the renewable energy standard applicable to retail electric suppliers and described in sections (a) through (i) above and shall be according to the following schedule:

(A)    In compliance year 2010, the Baseload Low Cost Renewable Energy Standard shall be equal to at least X percent (X%) of the electricity sold by retail electric suppliers to Massachusetts end use customers, adjusted for electric line losses.

(B)    In each succeeding compliance year, the Baseload Low Cost Renewable Energy Standard shall be equal to at least (i) one percent (1%) plus (ii) the percentage of such energy produced in the year prior to such compliance year.

(C)      Notwithstanding the foregoing, the Baseload Low Cost Renewable Energy Standard shall not exceed an aggregate of 1,000 MW in any compliance year.

(2)For each compliance year, in order to quality for the renewable energy standard in this subsection, a Class I renewable energy generating source must not only meet the eligibility requirements set forth in Subsection (1) hereof, but also sell all of the renewable energy produced by such generating source during such compliance year into either the day ahead or real time market operated by the ISO-New England at the otherwise prevailing hourly prices.

(3)Any Class I renewable energy generating source participating in the Baseload Low Cost Renewable Standard cannot during such compliance year participate in any other renewable energy standard provided for in this Section and, any Class I renewable energy generating source participating in any other renewable energy standard provided for in this Section cannot, during such compliance year, participate in the Baseload Low Cost Renewable Standard.  

             (4)   In compliance with sub-section (f) of this section, the department shall establish and maintain regulations allowing for a retail supplier to discharge its obligations under this section by making an alternative compliance payment in the amount established by the department for Class I renewable energy generating sources. The department shall establish and maintain regulations outlining procedures by which each retail supplier shall annually submit for the department's review a filing illustrating the retail supplier's compliance with the requirements of this section.