This bill aims to enhance energy production in Iowa by modifying the legal framework surrounding electric power generation, energy storage, and transmission facility ratemaking principles. It introduces a new section defining key terms such as "energy storage," "nuclear reactor," and "repowering," while also amending existing language to reflect the intent of the General Assembly to attract the development of energy storage and nuclear power generation. The bill emphasizes the need for public utilities to consider diverse electric power generating technologies and energy storage solutions to ensure reliable service and economic benefits for consumers.

Additionally, the bill revises the processes for establishing ratemaking principles for rate-regulated public utilities. It allows utilities to seek ratemaking principles for a broader range of facilities, including those with a nameplate capacity of 40 megawatts or greater, and introduces new criteria for significant alterations to existing facilities. The bill also mandates that the return on equity for a utility's wind and solar energy systems align with the utility's most recent rate proceeding, thereby promoting consistency in rate-setting practices. Overall, the legislation aims to facilitate a transition to more sustainable energy sources while ensuring reliable service for Iowa consumers.

Statutes affected:
Introduced: 476.53