Bill
Bill > HB615
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Electric utilities; renewable portfolio standard program; deficiency payments. Changes from $45 to $0.01 the amount of deficiency payment required by certain electric utilities that are unable to meet the compliance obligations of the renewable energy portfolio standard program requirements and removes provisions requiring a payment of $75 per megawatt-hour of shortfall in procuring renewable energy certificates for solar, wind, or anaerobic digesters.
AI Summary
This bill amends Virginia's renewable portfolio standard (RPS) program, which requires electric utilities (referred to as Phase I and Phase II Utilities) to procure a certain percentage of their electricity from renewable energy sources. Specifically, it changes the penalty for utilities unable to meet their RPS obligations. Previously, utilities had to pay $45 per megawatt-hour (MWh) for any shortfall in obtaining Renewable Energy Certificates (RECs), which represent renewable energy generation. This bill reduces that deficiency payment to a mere $0.01 per MWh. It also removes a separate, higher penalty of $75 per MWh that was specifically applied to shortfalls in procuring RECs for solar, wind, or anaerobic digester projects. The context for this change is that the RPS program aims to increase the use of renewable energy, and these deficiency payments are a mechanism to ensure compliance or penalize non-compliance.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Left in Labor and Commerce (on 02/18/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/HB615 |
| Fiscal Note/Analysis - Fiscal Impact Statement from State Corporation Commission (HB615) | https://lis.blob.core.windows.net/files/1098838.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB615/text/HB615 |
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