56-599 - Integrated resource plan required. - Virginia Statutes

§ 56-599. Integrated resource plan required.

A. Not later than December 31, 2008, the Commission shall order each electricutility to develop an integrated resource plan. The order may establishguidelines for developing an IRP.

B. By September 1, 2009, each electric utility shall file an initialintegrated resource plan with the Commission, which plan shall comply withthe provisions of the order of the Commission issued pursuant to subsection A.

C. Each electric utility shall file an updated integrated resource plan atleast every two years thereafter, which plan shall comply with the provisionsof any relevant order of the Commission establishing guidelines for theformat and contents of updated and revised integrated resource plans.

D. In preparing an integrated resource plan, each electric utility shallsystematically evaluate, and may propose:

1. Entering into short-term and long-term electric power purchase contracts;

2. Owning and operating electric power generation facilities;

3. Building new generation facilities;

4. Relying on purchases from the short term or spot markets;

5. Making investments in demand-side resources, including energy efficiencyand demand-side management services;

6. Taking such other actions, as the Commission may approve, to diversify itsgeneration supply portfolio and ensure that the electric utility is able toimplement an approved plan; and

7. The methods by which the electric utility proposes to acquire the supplyand demand resources identified in its proposed integrated resource plan.

E. The Commission shall analyze and review an integrated resource plan and,after giving notice and opportunity to be heard, the Commission shall make adetermination as to whether an IRP is reasonable and is in the publicinterest.

(2008, cc. 476, 603.)