Be it enacted by the General Assembly of Virginia:

1. §1. The State Corporation Commission (the Commission) shall ensure that any plan, petition, or proposal from a utility to meet demand associated with data centers, as that term is defined in subdivision A 43 of § 58.1-3506 of the Code of Virginia, considers generation, transmission, and distribution system costs so as to meet such demand at the lowest aggregate reasonable cost.

§2. The Commission shall initiate a proceeding on or before December 31, 2024, (i) to determine if the current allocation of costs among customers and the different classifications of customers of electric utilities results in customers that are data centers, as defined in subdivision A 43 of §58.1-3506 of the Code of Virginia, receiving unreasonable subsidies from other customers or classifications of customers and (ii) if it determines unreasonable subsidies exist, to amend such allocation of costs.