Energy

Electric utilities; RPS requirements; Air Pollution Control Board; regulations. Delays for 20 years the timeline by which Appalachian Power and Dominion Energy Virginia are required to produce 100 percent of their electric energy from 100 percent renewable resources. Under the bill, the annual percentage requirements are paused after the 2023 compliance year and do not resume until 2044. The bill provides that Appalachian Power and Dominion Energy Virginia are required to meet the 100 percent requirement by 2070 and 2065, respectively. Additionally, the bill provides that the Air Pollution Control Board is required to adopt regulations for the period of 2051 to 2070 to reduce carbon emissions from electric power generating facilities. Under current law, the Board is required to adopt regulations to reduce emissions for the period of 2031 through 2050.

Electric utilities; RPS requirements; Air Pollution Control Board; regulations. Delays for 20 years the timeline by which Appalachian Power and Dominion Energy Virginia are required to produce 100 percent of their electric energy from 100 percent renewable resources. Under the bill, the annual percentage requirements are paused after the 2023 compliance year and do not resume until 2044. The bill provides that Appalachian Power and Dominion Energy Virginia are required to meet the 100 percent requirement by 2070 and 2065, respectively. Additionally, the bill provides that the Air Pollution Control Board is required to adopt regulations for the period of 2051 to 2070 to reduce carbon emissions from electric power generating facilities. Under current law, the Board is required to adopt regulations to reduce emissions for the period of 2031 through 2050.

Electric utilities; renewable portfolio standard program; deficiency payments. Changes from $45 to $0.01 the amount of deficiency payment required by certain electric utilities that are unable to meet the compliance obligations of the renewable energy portfolio standard program requirements and removes provisions requiring a payment of $75 per megawatt-hour of shortfall in procuring renewable energy certificates for solar, wind, or anaerobic digesters.

Electric utilities; renewable energy portfolio standard program. Repeals provisions (i) requiring Dominion Energy and Appalachian Power to participate in a renewable energy portfolio standard program that requires each such utility to procure and retire renewable energy certificates and (ii) permitting the recovery of certain costs associated with compliance with such program.

Electric utilities; suspension of certain requirements. Provides that the renewable energy portfolio standard requirements and any associated construction, procurement, or retirement mandates are suspended for the applicable compliance year if the State Corporation Commission determines that compliance has resulted in, or will result in, any of the following: (i) an increase in the average residential customer’s total monthly electric bill of more than five percent in any calendar year that is attributable to compliance with the renewable energy portfolio standard or associated zero-carbon generation or energy storage requirements; (ii) an increase in any rate adjustment clause, rider, or non-bypassable charge associated with compliance with this section that exceeds $50 per month for the average residential customer; (iii) a determination that compliance poses a material risk to electric system reliability or resource adequacy in the Commonwealth; or (iv) a determination that the cost of renewable energy certificates necessary for compliance exceeds the applicable alternative compliance payment or deficiency payment for two consecutive compliance years.

High energy use facilities; natural gas fuel cell generating resources. Permits a high energy use facility, as defined in the bill, that owns or operates a natural gas fuel cell generating resource to enter a contract to generate electric energy on such terms and conditions negotiated with the Dominion Energy or Appalachian Power Company, including provisions related to (i) issuing utility bill credits equivalent to the value of such energy generation and (ii) the utility's purchase of excess power generated by the high energy use facility. The bill requires such natural gas fuel cell generating resource to be located on the same real property as the high energy use facility.

Electric utilities; construction and development of renewable energy facilities; powers of State Air Pollution Control Board; powers of State Corporation Commission. Repeals provisions (i) requiring the State Air Pollution Control Board to adopt regulations to reduce carbon dioxide emissions from any electricity generating unit in the Commonwealth and authorizing the Board to establish an auction program for energy allowances; (ii) prohibiting the State Corporation Commission from approving any new utility-owned generation facilities that emit carbon dioxide as a by-product of energy generation under certain circumstances; (iii) declaring that statutory allowances for energy derived from sunlight, onshore wind, offshore wind, and storage facilities are in the public interest; and (iv) relating to the development of solar and wind generation and energy storage capacity, development of offshore wind capacity, and generation of electricity from renewable and zero-carbon sources. The bill provides that planning and development activities for new nuclear generation facilities are in the public interest.

Electric utilities; renewable energy portfolio standard program; deficiency payments. Removes provisions requiring deficiency payments by certain electric utilities if such utilities are unable to meet the compliance obligation of the renewable energy portfolio standard (RPS) program requirements or if the cost of renewable energy certificates necessary to comply with RPS program requirements exceeds $45 per megawatt hour.