HB1204:

Renewable energy certificates; certain requirements prohibited.

Bill Summary:

Renewable energy certificates; priority of procurement. Requires American Electric Power and Dominion Energy Virginia, for renewable energy portfolio standard (RPS) program compliance years 2023 and 2024, to prioritize procurement of renewable energy certificates (RECs) from renewable energy standard sources (RPS eligible sources) located in the Commonwealth, provided that such RECs are cost-competitive when compared with out-of-state sources at the time of procurement. Additionally, the bill requires each utility to include in its annual filing for RPS program compliance years 2023 and 2024 a plan for prioritizing procurement of RECs from RPS eligible sources that are both (i) cost-competitive and (ii) eligible for the Virginia Brownfield and Coal Mine Renewable Energy Grant Fund and Program.