Requires investor-owned electric utilities and electric cooperatives to submit, by January 1, 2009, a procurement plan that sets forth how it intends to meet its obligation to provide electric generation supply for its customers over the next 20 years. The procurement plan shall integrate, over the term of the plan, the electric utility's forecast of demand with actions to meet the forecasted demand, and identify a portfolio of electric generation supply resources that is likely to provide the electric generation supply needed to meet the forecasted demand at the lowest total price with reasonable price stability so as to assure just and reasonable prices. Updated procurement plans will be filed every two years thereafter.

Would have loved to see SB 93 move forward but it didn't.However when the patron of the bill does not lobby their fellow Senate members to help with it, it is doomed from the start. From my conversations with some members of the Senate there was very little if any discussion of this bill. This is the one thing left concerning the outrageous electric bills consumers in Southside Virginia are being saddled with. It is not what is needed to fix the major blunder at the 2007 session with the deregulation, it is better than nothing. We have citizens here with light bills as high as their house payments! Seniors get a 2.5% raise and the light bill goes up 12%! I am not a math whiz by any means, but this isn't cutting it!