This bill amends the regulation of public utilities in Iowa, focusing on rate filings, rate adjustment mechanisms, virtual power plants, and integrated resource planning. It establishes that electric utilities subject to rate regulation must file a general rate case by July 1, 2029, and every three years thereafter, ensuring that rates and cost allocations are just and reasonable based on actual service costs. Additionally, it prohibits these utilities from using automatic rate adjustment mechanisms, requiring that any costs recovered through such mechanisms be included in the general rate case process.

The bill also recognizes the importance of customer-owned generation and storage, defining virtual power plants as collections of these resources managed collectively within a utility's service territory. It mandates that the Iowa Utilities Commission develop rules for the approval and oversight of virtual power plants, ensuring they provide benefits to customers. Furthermore, it requires rate-regulated public utilities to submit an integrated resource plan every three years, detailing long-term planning and resource management strategies. The Commission is tasked with ensuring public access to information while maintaining necessary confidentiality, and it may employ additional staff or contract services to assist in these regulatory functions.

Statutes affected:
Introduced: 476.6