SCC Approves Renewable Energy Portfolio Standard Plan for Appalachian Power
SEP 08, 2023
RICHMOND – The State Corporation Commission (SCC) approved the 2023 Renewable Energy Portfolio Standard (RPS) development plan for Appalachian Power Company for new solar and onshore wind generation capacity. The company is required to submit an annual plan to the SCC to comply with the Virginia Clean Economy Act (VCEA).
The SCC found that Appalachian Power’s plan is reasonable and prudent giving due consideration to the statutory factors contained in the VCEA.
The Commission approved six new power purchase agreements (“PPAs”) totaling 184 megawatts, one renegotiated PPA totaling 20 megawatts and acquisition of an out-of-state wind facility totaling up to 146.2 megawatts.
The Commission denied the company’s request for cost recovery associated with a legacy wind contract, finding the economic analysis did not show positive value for customers.
The SCC also approved a revenue requirement of $16,373,821 for the recovery of VCEA-related resources for the rate year of October 2023 through September 2024.
In its final order, the Commission stated, “The Commission … is guided in these matters by the statutes and the record. The Commission has continued to exercise its delegated discretion in a manner that faithfully implements the VCEA’s carbon-reduction requirements, while best protecting consumers who expect and deserve reliable and affordable service.”
Contact: Greg Weatherford, 804-371-9141
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