Bill
Bill > SB40
VA SB40
VA SB40Electric utilities; renewable energy portfolio standard program, deficiency payments.
summary
Introduced
11/20/2025
11/20/2025
In Committee
11/20/2025
11/20/2025
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Electric utilities; renewable energy portfolio standard program; deficiency payments. Removes provisions requiring deficiency payments by certain electric utilities if such utilities are unable to meet the compliance obligation of the renewable energy portfolio standard (RPS) program requirements or if the cost of renewable energy certificates necessary to comply with RPS program requirements exceeds $45 per megawatt hour.
AI Summary
This bill removes provisions that would require electric utilities to make deficiency payments if they fail to meet their renewable energy portfolio standard (RPS) program obligations or if the cost of renewable energy certificates (RECs) needed for compliance exceeds $45 per megawatt-hour. The RPS program, which mandates that utilities generate a certain percentage of their electricity from renewable sources, is being modified by this bill, specifically by removing the penalty payments for non-compliance under certain cost thresholds.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Passed by indefinitely in Commerce and Labor (9-Y 6-N) (on 02/12/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/SB40 |
| BillText | https://lis.virginia.gov/bill-details/20261/SB40/text/SB40SC2 |
| BillText | https://lis.virginia.gov/bill-details/20261/SB40/text/SB40SC1 |
| Fiscal Note/Analysis - Fiscal Impact Statement from State Corporation Commission (SB40) | https://lis.blob.core.windows.net/files/1105416.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/SB40/text/SB40 |
Loading...