Bill > HB1062

This bill mandates that two major electric utilities, referred to as "Phase I Utility" and "Phase II Utility" (which are American Electric Power and Dominion Energy Virginia, respectively), must each petition the State Corporation Commission (SCC) by December 31, 2026, to launch pilot programs focused on electric energy conservation, solar energy generation, and energy storage for low-income, elderly, and disabled individuals within their service areas. These pilot programs, funded by the utilities and separate from existing aid, will have specific initial funding amounts ($5 million for Phase I and $23 million for Phase II) that will increase annually based on inflation or the utility's growth rate, and will continue until July 1, 2034, unless amended or repealed sooner. The SCC is also directed to hold a technical conference by November 1, 2026, to explore the creation of an energy efficiency program similar to the "Pay As You Save" model, and if deemed feasible and in the public interest, the SCC will require these utilities to seek approval for such a program by May 1, 2027. The costs associated with these pilot programs, including energy storage, will be recovered by the utilities through established regulatory processes. Furthermore, the incentives provided to customers in these pilot programs will count towards the utilities' energy savings goals and spending requirements for benefiting low-income, elderly, and disabled individuals, with a priority given to those in housing owned or controlled by a redevelopment and housing authority.

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https://lis.virginia.gov/bill-details/20261/HB1062