Bill > HB2693

This bill modifies several sections of Virginia law related to electric utilities, renewable energy, and environmental regulation. The key provisions include: This bill eliminates previous requirements for the State Air Pollution Control Board to adopt regulations reducing carbon dioxide emissions from electricity generating units. It removes provisions that prohibited the State Corporation Commission from approving new utility-owned generation facilities that emit carbon dioxide under certain circumstances. The bill removes statutory declarations about the public interest of energy derived from sunlight, wind, and storage facilities. The bill provides that planning and development activities for new nuclear generation facilities are in the public interest. It modifies regulations around electric utility rate reviews, shared solar programs, and the development of renewable energy facilities. Specifically, the bill: 1. Removes previous language about carbon dioxide emissions regulations and carbon allowance programs. 2. Changes provisions related to utility rate reviews, including how earnings are calculated and potential customer credits. 3. Modifies shared solar program requirements for both Phase I and Phase II utilities, including: - Establishing program capacity limits - Creating rules for subscriber participation - Defining bill credit mechanisms - Setting minimum bill requirements 4. Provides more flexibility for utilities in developing generation facilities, particularly nuclear and renewable energy projects. 5. Removes some previous requirements related to renewable energy portfolio standards and environmental compliance. The bill aims to provide electric utilities with more regulatory flexibility while maintaining some provisions to support renewable and nuclear energy development. It represents a significant shift in Virginia's approach to utility regulation and clean energy policy.

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https://lis.virginia.gov/bill-details/20251/HB2693