calendar years to meet the performance 
standard for the applicable calendar year. 
‘‘(B) Any retail electricity or natural gas dis-
tributor that has submitted such a plan shall, by 
March 31 of the fourth calendar year, submit to the 
Secretary the credits necessary to repay all credits 
borrowed. 
‘‘(7) BUYOUT OPTION.— 
‘‘(A) IN GENERAL.—An electricity or nat-
ural gas distributor may elect to comply with 
this section for any calendar year by paying to 
the certified Electric and Natural Gas Savings 
Corporation not later than March 31 of the fol-
lowing year, a fee of 5 cents per kilowatt-hour 
or 50 cents per therm, for any portion of the 
electricity or natural gas savings credit the dis-
tributor would otherwise be obligated to achieve 
for the year. 
‘‘(B) USE OF BUYOUT FEES.—The Electric 
and Natural Gas Savings Corporation shall— 
‘‘(i) deposit fees received under sub-
paragraph (A) in an escrow account estab-
lished by the Corporation; and 
‘‘(ii) periodically distribute amounts in 
the escrow account to States requesting 
VerDate Aug 31 2005 
23:06 Jun 04, 2007
Jkt 059200
PO 00000
Frm 00022
Fmt 6652
Sfmt 6201
E:\BILLS\H2529.IH
H2529
jlentini on PROD1PC65 with BILLS
such funds for use in creating electricity or 
natural gas savings at customer facilities. 
States requesting funds from the account estab-
lished by the Corporation shall submit specific 
program proposals, including funds requested, 
estimated savings and measure lifetime(s), and 
estimated cost per kWh or therm saved. The 
Corporation shall develop guidelines for these 
submissions. The Corporation shall distribute 
funds based on the following criteria: Estimated 
savings per dollar of funds provided from the 
escrow account, maximizing consumer opportu-
nities to participate across all States, and, be-
ginning in year 3, past history of each State in 
meeting energy savings and cost-effectiveness 
targets. 
‘‘(C) ELECTRIC AND NATURAL GAS SAV-
INGS CORPORATION.— 
‘‘(i) ESTABLISHMENT
AND
CERTIFI-
CATION.—Any person may submit an ap-
plication to the Secretary for the establish-
ment and certification of a not-for-profit 
corporation, to be known as the Electric 
and Natural Gas Savings Corporation, to 
carry out this paragraph. The Secretary 
VerDate Aug 31 2005 
23:06 Jun 04, 2007
Jkt 059200
PO 00000
Frm 00023
Fmt 6652
Sfmt 6201
E:\BILLS\H2529.IH
H2529
jlentini on PROD1PC65 with BILLS
shall certify the corporation if the Sec-
retary determines that the corporation has 
submitted the most qualified application 
indicating capability to carry out this para-
graph. The Secretary may revoke such cer-
tification at any time for good cause, and 
in any such case, the Secretary may accept 
applications from other persons and certify 
another person as the Electric and Natural 
Gas Savings Corporation. 
‘‘(ii) AUTHORITY OF CORPORATION.— 
No person may distribute more than 
800,000 megawatt-hours of electric energy 
or more than 1 billion cubic feet of natural 
gas to consumers in the United States for 
purposes other than resale in any calendar 
year, including electricity or natural gas 
supplied by unregulated suppliers, regard-
less of whether such suppliers are affiliated 
or unaffiliated with the distributor unless 
such person complies with requirements es-
tablished by the Corporation for the pay-
ment of fees under this paragraph. 
‘‘(iii) STATUS OF CORPORATION.—The 
Corporation shall not be treated as a de-
VerDate Aug 31 2005 
23:06 Jun 04, 2007
Jkt 059200
PO 00000
Frm 00024
Fmt 6652
Sfmt 6201
E:\BILLS\H2529.IH
H2529
jlentini on PROD1PC65 with BILLS