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Requires each electric company to develop a distributed power plant program for the procurement of grid services to be provided by distributed energy resources. Specifies the grid services that may be eligible for compensation and the classes of distributed energy resources technologies that must be eligible to provide the grid services. Allows a customer to enroll directly or through a third party in an electric company's distributed power plant program. Requires an electric company to use a standard offer, open access tariff. Allows an electric company to recover in rates prudently incurred costs associated with the program. Directs the Public Utility Commission to develop and adopt annual procurement targets and performance incentives. Allows an electric company to earn performance incentives for meeting program targets. Requires each electric company to file an annual report with the commission on the status of the electric company's distributed power plant program, including the capacity enrolled in the program. Provides for initial requirements and an implementing timeline. Requires an initial distributed power plant program to provide compensation for system-wide peak load reduction that is provided by an energy storage device that is a battery. Takes effect on the 91st day following adjournment sine die.