Bill > HB369

This bill revises the conditions under which "accelerated clean energy buyers," previously known as accelerated renewable energy buyers, can contract with electric utilities like Appalachian Power or Dominion Energy Virginia for renewable energy certificates (RECs), which represent proof of renewable energy generation. Specifically, it exempts these buyers from paying certain non-bypassable costs associated with the state's renewable portfolio standard (RPS) program, which mandates utilities to generate a certain percentage of their electricity from renewable sources. This exemption is proportional to the amount and type of RECs or zero-carbon electricity the accelerated clean energy buyer obtains, relative to their total electricity consumption. The bill also expands the definition of "accelerated clean energy buyer" to include those who contract for zero-carbon electricity, not just renewable energy, and clarifies the types of zero-carbon generation resources that qualify for these contracts and exemptions.

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https://lis.virginia.gov/bill-details/20261/HB369