Electric utility regulation; renewable energy portfolio standard program. (HB1061)

Introduced By

Sen. Scott Surovell (D-Mount Vernon)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Renewable energy portfolio standard program. Establishes minimum percentages of the RPS Goals that Dominion, defined as a Phase II utility, is required to meet from distributed generation energy sources. Dominion may meet this goal by applying renewable energy certificates from any combination of (i) energy derived from renewable energy by a system capable of net energy metering located on the distribution grid, (ii) renewable thermal energy from solar water heating systems located in the Commonwealth, or (iii) a financial contribution to the Voluntary Solar Resource Development Fund. The distributed generation minimum starts at 5 percent in reporting year 2015 and is 25 percent in reporting year 2024 and thereafter. In connection with the issuance of renewable energy certificates for qualified investments, a participating utility is required to divide the amount of its qualified investments in the Voluntary Solar Resource Development Fund during the applicable period by the lesser of the average price for solar renewable energy certificates or $250 and divide the amount of all other qualified investments by the participating utility during the applicable period by the average price for Tier 1 renewable energy certificates and for Tier 2 renewable energy certificates. The State Corporation Commission is required to establish a market-based renewable energy trading system. The trading system shall be consistent with and operate in conjunction with the trading system developed by PJM Interconnection LLC. The ability to carry forward renewable energy certificates is limited to the two years following the year in which the certificate was created. The measure also eliminates provisions for double or triple credit toward meeting the renewable energy portfolio standard for energy derived from specific renewable energy sources. Amends § 56-585.2, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2014Committee
01/08/2014Presented and ordered printed 14103378D
01/08/2014Referred to Committee on Commerce and Labor
01/15/2014Assigned C & L sub: Special Subcommittee on Energy
01/30/2014Subcommittee recommends laying on the table
02/12/2014Left in Commerce and Labor