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2023 SESSION

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SB 1441 Offshore wind capacity; development, cost recovery.

Introduced by: Mamie E. Locke | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Development of offshore wind capacity; cost recovery. Requires the State Corporation Commission, in conducting its review of requests for cost recovery by a Phase II Utility for costs associated with generating facilities utilizing energy derived from offshore wind, to give due consideration to the economic development benefits of the project for the Commonwealth, including capital investments and job creation, arising from project construction and operation and the manufacture of wind turbine generator components and subcomponents. The bill also accelerates the timeline from 2034 to 2032 for public utilities to construct or purchase one or more offshore wind generation facilities located off the Commonwealth's Atlantic shoreline or in federal waters and interconnected directly into the Commonwealth. This bill is identical to HB 2444.

SUMMARY AS INTRODUCED:

Development of offshore wind capacity; cost recovery. Provides that the State Corporation Commission shall give preference to requests for cost recovery by a Phase II Utility for generating facilities utilizing energy derived from offshore wind that maximize economic benefits to the Commonwealth. The bill also accelerates the timeline from 2034 to 2024 for public utilities to construct or purchase one or more offshore wind generation facilities located off the Commonwealth's Atlantic shoreline or in federal waters and interconnected directly into the Commonwealth.