A bill for an act relating to energy production including the modification of electric power generation, energy storage, and transmission facility ratemaking principles.

This bill modifies how Iowa utility companies recover costs for new or significantly upgraded energy facilities. It establishes advance ratemaking principles for projects like new power plants over 340 megawatts, energy storage systems, or major upgrades (e.g., repowering coal plants to gas or adding carbon capture). Utilities can seek commission approval before construction to lock in cost recovery rules, with potential restrictions on future rate hikes for three years. The bill directly affects utility companies planning qualifying energy infrastructure projects within Iowa.