[§269-196]  Electric utility; agent of the department.  (a)  To implement the requirements of this part, the department shall designate the electric utility or its successor to act as an agent of the department to provide billing, collection, payment, and other related services.  In any action concerning a breach by the department of an agency agreement entered into in connection with the billing, collection, payment, and other related services, the sole remedy available to an electric utility against the department shall be a court order directing specific performance by the department of the agency agreement.  Under no circumstances shall the department be liable for any costs, expenses, or other monetary relief or compensatory damages in connection with a breach of any agency agreement.

     (b)  At the request of the department, the public utilities commission shall order the electric utility or its successor to perform the duties designated under subsection (a).

     (c)  The act of serving as an agent to bill and to collect the power purchase charges and reserve fees shall not cause the electric utility to be subject to the laws that regulate financial institutions, escrow depositories, or collection agencies.  The electric utility shall not be responsible for lending, underwriting, and credit determinations in respect to these billing and collection activities.

     (d)  To the extent any revenues are received by the electric utility pursuant to subsection (a) in the process of collection and pending their transfer to the fund pursuant to section 269-194(a), those revenues shall be held in trust for the department's exercise of its obligations pursuant to this part.

     (e)  To implement the requirements of this part, the director of finance may appoint, authorize, and empower the electric utility, as agent for and on behalf of the department, to collect and pay out moneys, including from the fund, for fulfillment of payment obligations of the department arising from step-in agreements related to covered power purchase agreements.  The appointment shall terminate when all step-in agreements are terminated as described in section 269-192(d) or as otherwise directed by the director of finance.

     (f)  The department's designation of the electric utility for services pursuant to subsections (a) and (e) shall be exempt from chapter 103D. [L 2025, c 191, pt of §2]