Dominion Virginia Power (“Dominion”) has filed its 2015 Integrated Resource Plan (the “2015 IRP”), which covers the period 2016 through 2030, with the Virginia State Corporation Commission (the “SCC”). You can view Dominion’s 2015 IRP here.
Dominion’s stated objective in its 2015 IRP is to “identify the mix of resources necessary to meet its customers’ projected energy and capacity needs in an efficient and reliable manner at the lowest reasonable cost, while considering future uncertainties.” Dominion’s plan for meeting the future needs include a balanced approach of: (i) supply-side resources, (ii) demand-side resources and (iii) market purchases.
Among other things, in the 2015 IRP, Dominion sets forth its evaluation of compliance with the U.S. Environmental Protection Agency’s (the “EPA”) Clean Power Plan regulations In its evaluation, the 2015 IRP describes four alternative plans, and a least-cost plan that would not comply with the EPA’s proposed rules but is provided for comparison purposes only. Three of the stated plans would result in retirements of coal capacity.
Dominion also includes provisions of the recently-enacted SB 1349, which amends Virginia Code Section 56-599 and establishes a “Transitional Rate Period,” which consists of five successive twelve-month test periods beginning January 1, 2015 and ending December 31, 2019. The legislation obligates the SCC to submit a report and make recommendations assessing the updated integrated resource plan of any investor-owned incumbent electric utility, to the Virginia General Assembly and Governor by December 1 of each year. The 2015 IRP is Dominion’s first integrated resource plan filed during the Transitional Rate Period.
Also included in the 2015 IRP are sections on load forecasting and alternative rate studies, existing resources and resources currently under development, planning assumptions and future resources.
The SCC will review the 2015 IRP and make a determination as to whether the 2015 IRP is reasonable and is in the public interest. The SCC has not yet issued a procedural order in this case, and we will update this Alert as soon as that happens.
GreeneHurlocker works with many clients operating in areas that may be impacted by the 2015 IRP proceeding. Please contact one of our Mid-Atlantic energy lawyers if you have questions about the 2015 IRP, the EPA’s Clean Power Plan or any other issues relating to Virginia energy regulation.