Virginia HB 809: Electric utilities; federal funding resources.

Bill Text

2024SESSION
INTRODUCED
24104824D
1 HOUSEBILLNO.809
2 OfferedJanuary10,2024
3 PrefiledJanuary9,2024
4 A BILL to require the Department of Energy and the State Corporation Commission to examine federal
5 funding resources available to electric utilities in the Commonwealth; report.
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Patrons––Rasoul,McNamaraandWilt
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8 ReferredtoCommitteeonRules
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10 Be it enacted by the General Assembly of Virginia:
11 1. § 1. The Department of Energy (the Department), in collaboration with the State Corporation
12 Commission, shall estimate and analyze total and discrete federal funding resources available to electric
13 utilities in the Commonwealth for transmission, generation, distribution, or grid transformation projects.
14 Such estimate and analysis shall include (i) a range of opportunities for federal funding resources,
15 including a maximum and minimum amount that an electric utility may leverage and an estimate of the
16 customer savings by tier that the utilization of federal funding resources could achieve; (ii)
17 recommendations related to how electric utilities can best incorporate federal funding and savings
18 opportunities into their near-term resource solicitation and planning activities; (iii) best practices used
19 by electric utilities nationwide to maximize federal funding; and (iv) actions that the Department or
20 other state agencies can advance to support electric utilities in applying for federal funds. The
21 Department shall develop and implement a benchmarking and tracking system to encourage the
22 maximum leveraging of federal funding resources by electric utilities no later than October 1, 2025.
23 Such system shall include a clear visualization of the total available federal funding resources that each
24 utility could leverage. The Department and the State Corporation Commission shall seek public input
25 and gather information from electric utilities in the Commonwealth before submitting their final report.
26 The Department and the State Corporation Commission shall complete their meetings by November 30,
27 2024, and shall submit to the Commission on Electric Utility Regulation an executive summary and a
28 report of their findings and recommendations. The executive summary and report shall be submitted as
29 provided in the procedures of the Division of Legislative Automated Systems for the processing of
30 legislative documents and reports no later than the first day of the 2025 Regular Session of the General
31 Assembly and shall be posted on the General Assembly's website.
INTRODUCED
HB809
2/1/24
8:49