HB74:

Va. Clean Economy Act; non-bypassable charges, energy-intensive trade-exposed (EITE) industries

Bill Summary:

Virginia Clean Economy Act; non-bypassable charges; energy-intensive trade-exposed (EITE) industries. Defines EITE industries as companies that are constrained in their ability to pass through carbon costs due to international competition, companies that engage in importation of products that cause emission leakage, and critical infrastructure facilities identified by certain federal agencies. The bill directs the State Corporation Commission to establish an EITE customer exemption pilot program for non-bypassable charges in certain provisions of the Virginia Clean Economy Act related to generation of electricity from renewable and zero carbon sources and development of offshore wind capacity. The EITE Pilot Program shall commence no later than January 1, 2023, and shall have an initial aggregate customer load of 2,000 megawatts based on each participating customer's load during the previous calendar year. The State Corporation Commission shall also submit a report on the status of the EITE Pilot Program by March 31, 2024.