Revises the definition of "eligible renewable resource," for purposes of the energy independence act, to include: (1) That portion of incremental electricity produced as a result of efficiency improvements attributable to a qualifying utility's share of the electricity output from hydroelectric generation projects whose energy output is marketed by the Bonneville power administration where the additional generation does not result in new water diversions or impoundments; and

(2) The environmental attributes, including renewable energy credits, from (1) above, transferred to investor-owned utilities pursuant to the Bonneville power administration's residential exchange program.

Authorizes a qualifying utility to use eligible renewable resources identified in (1) and (2) above to meet its compliance obligation.