SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2009 SESSION

  • | print version

HB 1994 Renewable portfolio standard program; establish goal for investor-owned incumbent electric utility.

Introduced by: David L. Bulova | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Renewable portfolio standard program.  Establishes a goal for investor-owned incumbent electric utilities to have 15 percent of their total electric energy sales in the base year be from renewable energy sources in calendar year 2025. Currently, such a utility may participate in the voluntary renewable energy portfolio standard program if it demonstrates that it has a reasonable expectation of achieving 12 percent of its base year electric energy sales from certain renewable energy sources during calendar year 2022. A participating utility that meets the specified percentage goals is eligible for performance incentives that increase the fair combined rate of return on common equity and provide an enhanced rate of return on costs associated with the construction of renewable energy generation facilities.


FULL TEXT

AMENDMENTS

HISTORY