SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2014 SESSION

  • | print version

HB 822 Electric utility regulation; renewable energy portfolio standard program.

Introduced by: Alfonso H. Lopez | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Renewable energy portfolio standard program. Limits the ability of an electric utility participating in the renewable energy portfolio standard (RPS) program to bank renewable energy sales or renewable energy certificates (RECs) that are in excess of the yearly sales requirement for that RPS Goal. The measure provides that the utility may use such excess sales or RECs to achieve the RPS Goals only in the subsequent five calendar years after the renewable energy was generated or the certificates were created. An electric utility may continue to apply RECs that it acquired prior to January 1, 2014. This bill is identical to SB 498.

SUMMARY AS PASSED HOUSE:

Renewable energy portfolio standard program. Limits the ability of an electric utility participating in the renewable energy portfolio standard (RPS) program to bank renewable energy sales or renewable energy certificates (RECs) that are in excess of the yearly sales requirement for that RPS Goal. The measure provides that the utility may use such excess sales or RECs to achieve the RPS Goals only in the subsequent five calendar years after the renewable energy was generated or the certificates were created. An electric utility may continue to apply RECs that it acquired prior to January 1, 2014.

SUMMARY AS INTRODUCED:

Electric utilities; renewable energy portfolio standard program. Eliminates the double credit provided for renewable energy generation from facilities fueled primarily by animal waste. The measure also limits a utility's ability to apply excess renewable energy to the requirements of any future RPS Goals to the two calendar years after the renewable energy was generated or the renewable energy certificates were created, except that a utility may apply renewable energy certificates it acquired prior to January 1, 2014. Finally, it states that it is in the public interest for utilities to achieve the RPS Goals.