Chief Patron: Surovell
Geothermal Renewable Energy Certificates (SB 252)

Item 474 #8s

Language
Page 549, line 3, strike "$104,581,800" and insert "$104,631,800".

Explanation

(This amendment provides $50,000 GF the first year to facilitate the fiscal impact of implementation of Senate Bill 252, which for purposes of the renewable energy portfolio standard program, requires Dominion Energy Virginia and American Electric Power to annually procure and retire certain percentages of renewable energy certificates from geothermal heating and cooling systems. The funding would cover the incurred costs to the State Corporation Commission due to the bill’s requirement to prepare and deliver a report evaluating the procurement and retirement of renewable energy certificates from geothermal heating and cooling systems in the Commonwealth on or before November 1, 2027. This is a recommendation of the Commission on Electric Utility Regulation.)