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 eliminate barriers to diverse energy development, promote local energy resources, and ensure a secure supply chain. Additionally, it encourages streamlined regulatory processes and collaboration with federal agencies to expedite energy-related actions.

Moreover, the bill adds a new subchapter, 23-18-1301, which addresses the retirement of dispatchable electric generation facilities of 100 megawatts (MW) or larger. It establishes a rebuttable presumption against such retirements, requiring public utilities to seek approval from the Arkansas Public Service Commission, which must ensure that retirements do not harm ratepayers or compromise grid reliability. The bill mandates utilities to provide evidence of compliance and includes provisions for annual reporting on retirement applications and their impacts. An emergency clause is also included, highlighting the urgent need to address the ongoing retirement of essential electric generating resources to protect employment, tax revenue, and utility rates, with the act taking effect immediately upon approval by the Governor.