Bill > SB487

This bill authorizes electric cooperatives, which are utilities formed under specific Virginia laws, to establish and implement a virtual power plant program without needing immediate approval from the State Corporation Commission (SCC), though the program will be reviewed during the utility's next general rate proceeding. A virtual power plant is defined as a collection of "distributed energy resources" – which are devices like battery storage or smart thermostats that can produce, store, or manage electricity and are up to five megawatts in size – that are coordinated to provide services to the electric grid. These services can include things like reducing demand during peak times or providing emergency power. The bill allows electric cooperatives to offer incentives to residential customers to buy battery storage devices, and if they do, they must conduct a competitive bidding process for these devices that is open to both utility-owned and non-utility-owned options. Furthermore, the electric cooperative must explore various ways to optimize electricity demand, including getting feedback from stakeholders, reviewing incentives for customers, considering extra incentives for customers in historically economically disadvantaged communities, and developing a tariff that outlines how customers can enroll their eligible technologies, what services they can provide, and how they will be compensated.

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https://lis.virginia.gov/bill-details/20261/SB487