Energy

Qualifying localities; underground electric distribution and transmission improvements; levy on utility customers by ordinance. Authorizes a qualifying locality, defined in the bill, to enter into an agreement with an electric utility to place new or proposed underground electric distribution or transmission lines and facilities or to relocate or convert existing overhead electric distribution or transmission lines and facilities underground. The bill requires any such agreement to provide that the locality pay to the utility its full additional costs of placing new or proposed electric distribution or transmission lines in the qualifying locality or relocating and converting that portion of a line located in the county underground rather than overhead, minus the net of relocation credits.The bill also provides that the qualifying locality may impose an additional levy on electric utility customers, which (i) shall not exceed $1 per month on residential customers; (ii) shall not exceed $10 per month on nonresidential customers; (iii) may be fixed at any amount on nonresidential customers that are major commercial energy consumers, defined in the bill; and (iv) shall be collected by the utility on behalf of the locality.

Electric utilities; renewable energy portfolio standard program. Repeals provisions (i) requiring Dominion Energy and Appalachian Power to participate in a renewable energy portfolio standard program that requires each such utility to procure and retire renewable energy certificates and (ii) permitting the recovery of certain costs associated with compliance with such program.

Electric utilities; renewable energy portfolio standard program; deficiency payments. Removes provisions requiring deficiency payments by certain electric utilities if such utilities are unable to meet the compliance obligation of the renewable energy portfolio standard (RPS) program requirements or if the cost of renewable energy certificates necessary to comply with RPS program requirements exceeds $45 per megawatt hour.