The proposed bill seeks to amend Arkansas energy law by establishing a comprehensive state energy policy and regulating the retirement of dispatchable electric generation facilities. It introduces a new section, 15-10-103, which emphasizes the state's commitment to maintaining an adequate, affordable, reliable, and resilient electric generation and transmission system. The policy aims to remove barriers to diverse energy development, promote local energy resources, and ensure a secure supply chain, while also encouraging streamlined regulatory processes and collaboration with federal agencies to expedite energy-related actions.

Additionally, the bill adds a new subchapter, 23-18-1301, which establishes a rebuttable presumption against the retirement of dispatchable electric generation facilities of 100 megawatts or larger. Public utilities must apply for approval from the Arkansas Public Service Commission before proceeding with retirements, which will be evaluated based on public interest criteria, including the reliability of energy supply and the impact on ratepayers. The bill mandates annual reporting on retirement applications and their effects on the state's energy landscape, and includes an emergency clause highlighting the urgent need to address the ongoing retirement of essential electric generating resources to protect employment, tax revenue, and utility rates. The act will take effect upon approval by the Governor or under specified conditions if not vetoed.