Bill > SB700

This bill establishes the Large-Scale Electricity Consumer Infrastructure Impact Fund to address the costs associated with the high electricity demand of large facilities. A "large-scale electricity consumer" is defined as any facility, or group of facilities acting as one, with an electricity demand exceeding 25 megawatts. These large consumers will be required to pay an annual infrastructure impact fee, determined by the State Corporation Commission (the Commission) based on their energy usage, demand in megawatts, and square footage, with the Commission also considering factors that reduce energy use and grid impact. Additionally, any locality that approves the construction or operation of a large-scale electricity consumer on or after January 1, 2028, must pay an annual fee to the Commission equal to five percent of the total tax revenue generated by that consumer, provided that revenue is not already restricted by state law. All collected fees will be deposited into the newly created Fund, which is a special, non-reverting fund in the state treasury. The money in this Fund will be used exclusively to help utilities cover the costs of replacing and improving infrastructure that is directly impacted by the electricity demand of these large consumers, and to provide bill credits to residential customers to offset any rate increases caused by this demand, as well as for the administration of the Fund itself. The Commission will be responsible for managing and overseeing the Fund.

Budget and Finance

https://lis.virginia.gov/bill-details/20261/SB700