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2015 SESSION
15103732DBe it enacted by the General Assembly of Virginia:
1. That § 56-599 of the Code of Virginia is amended and reenacted as follows:
§ 56-599. Integrated resource plan required.
A. Not later than December 31,
2008, the Commission shall order each electric utility to develop an integrated
resource plan. The order may establish guidelines for developing an IRP.
B. By September 1, 2009, each
electric utility shall file an initial integrated resource plan with the
Commission, which plan shall comply with the provisions of the order of the
Commission issued pursuant to subsection A.
C. Each
electric utility serving two million or more
customers in the Commonwealth shall file an updated
integrated resource plan at least every two years
thereafter by September 1 of each year,
which plan shall comply with the provisions of any relevant order of the
Commission establishing guidelines for the format and contents of updated and
revised integrated resource plans. Each
electric utility serving fewer than two million in the Commonwealth shall file
an updated integrated resource plan every two years on a
schedule established by the Commission. A copy of each integrated
resource plan shall be provided to the chairmen of the House and Senate
Committees on Commerce and Labor and to the chairman of the Commission on Electric Utility Regulation.
D. B. In
preparing an integrated resource plan, each electric utility shall
systematically evaluate, and may propose:
1. Entering into short-term and long-term electric power purchase contracts;
2. Owning and operating electric power generation facilities;
3. Building new generation facilities;
4. Relying on purchases from the short term or spot markets;
5. Making investments in demand-side resources, including energy efficiency and demand-side management services;
6. Taking such other actions, as the Commission may approve,
to diversify its generation supply portfolio and ensure that the electric
utility is able to implement an approved plan; and
7. The methods by which the electric utility proposes to acquire the supply and demand resources identified in its proposed integrated resource plan; and
8. Compliance options to minimize effects on customer rates of pending federal environmental rules.
E. C. The Commission
shall analyze and review an integrated resource plan and, after giving notice
and opportunity to be heard, the Commission shall make a determination as to
whether an IRP is reasonable and is in the public interest.