Utilities, Utility Districts - As introduced, requires each public and private electric utility and electric project developer, owner, or operator to conduct a technical assessment of certain electrical transformers to determine vulnerability to geomagnetically induced current; requires such entities to file a report on the assessment with the general assembly, governor, board of utility regulation, and the public utilities commission. - Amends TCA Title 4; Title 7 and Title 65.

HB 2316 requires all Tennessee electric utilities and project developers (both public and private) to assess large transformers for vulnerability to geomagnetically induced currents (GICs) by January 2027. Covered entities must report detailed findings - including transformer specifications, risk analysis, protection costs, and recommended solutions - to state officials by July 2027, while redacting sensitive security data under Critical Energy Infrastructure Information (CEII) protocols. The bill mandates specific technical standards for assessments, including modeling peak magnetic fields and accounting for transformer age, and explicitly prohibits relying solely on operational fixes like load shedding for GIC protection. This directly affects grid operators managing high-voltage infrastructure (100kV+ transformers) to enhance grid resilience against space weather events.