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 adjustments, 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 within a utility's service territory, and stipulates that they are not considered public utilities. The Iowa Utilities Commission is tasked with creating rules for the approval and oversight of virtual power plants, ensuring they benefit customers. Furthermore, the bill mandates that each rate-regulated public utility file an integrated resource plan every three years, starting July 1, 2027, which must include detailed analyses and planning horizons. The commission is directed to maximize public access to information while protecting necessary confidential data and may employ additional staff or contract services to assist in these regulatory processes.

Statutes affected:
Introduced: 476.6