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SB 902

Electric utilities; renewable portfolio standard program, deficiency payments.

2025 Regular Session Introduced by Bill Stanley

SB 902 modifies Virginia's renewable energy requirements for utilities by restructuring deficiency payments utilities owe when missing renewable energy targets.

Passed by indefinitely in Commerce and Labor (8-Y 6-N 1-A)
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Bill Summary · SB 902

Legislative bill overview

SB 902 modifies Virginia's renewable portfolio standard (RPS) program by adjusting how electric utilities handle deficiency payments when they fail to meet renewable energy requirements. The bill changes the mechanism for penalties or credits when utilities don't acquire sufficient renewable energy to meet state mandates.

Why is this important

Virginia's RPS is a key climate and energy policy tool that requires utilities to source increasing percentages of electricity from renewable sources. How deficiency payments are structured directly affects utility compliance costs, electricity rates for consumers, and the financial incentive for utilities to invest in renewable energy infrastructure.

Potential points of contention

  • Utility cost implications: Changes to deficiency payment structures could either reduce or increase compliance costs for utilities, which may be passed to ratepayers through rate changes
  • Renewable energy incentives: Modifying penalties may weaken or strengthen the financial pressure on utilities to actually invest in renewable projects versus simply paying deficiency fees
  • Environmental outcomes: Depending on the specific changes, the bill could accelerate or slow Virginia's transition to renewable energy sources

Compiled from official sources — confirm details with the bill’s official record.

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