Bill Text: VA HB809 | 2024 | Regular Session | Prefiled
Bill Title: Electric utilities; federal funding resources.
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: (Introduced) 2024-02-01 - Tabled in Rules (18-Y 0-N) [HB809 Detail]
Download: Virginia-2024-HB809-Prefiled.html
Be it enacted by the General Assembly of Virginia:
1. §1. The Department of Energy (the Department), in collaboration with the State Corporation Commission, shall estimate and analyze total and discrete federal funding resources available to electric utilities in the Commonwealth for transmission, generation, distribution, or grid transformation projects. Such estimate and analysis shall include (i) a range of opportunities for federal funding resources, including a maximum and minimum amount that an electric utility may leverage and an estimate of the customer savings by tier that the utilization of federal funding resources could achieve; (ii) recommendations related to how electric utilities can best incorporate federal funding and savings opportunities into their near-term resource solicitation and planning activities; (iii) best practices used by electric utilities nationwide to maximize federal funding; and (iv) actions that the Department or other state agencies can advance to support electric utilities in applying for federal funds. The Department shall develop and implement a benchmarking and tracking system to encourage the maximum leveraging of federal funding resources by electric utilities no later than October 1, 2025. Such system shall include a clear visualization of the total available federal funding resources that each utility could leverage. The Department and the State Corporation Commission shall seek public input and gather information from electric utilities in the Commonwealth before submitting their final report. The Department and the State Corporation Commission shall complete their meetings by November 30, 2024, and shall submit to the Commission on Electric Utility Regulation an executive summary and a report of their findings and recommendations. The executive summary and report shall be submitted as provided in the procedures of the Division of Legislative Automated Systems for the processing of legislative documents and reports no later than the first day of the 2025 Regular Session of the General Assembly and shall be posted on the General Assembly's website.
