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 mandates that public utilities 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. Utilities that have not filed a general rate case since July 1, 2023, must do so by December 31, 2027. The bill also prohibits electric utilities subject to rate regulation from using automatic adjustment provisions for rates and requires that any costs recovered through such mechanisms be included in general rate cases.

Additionally, the bill recognizes the importance of customer-owned generation and storage, defining virtual power plants as collections of these resources managed by a common control mechanism. It establishes that virtual power plants are not considered public utilities and requires the Iowa Utilities Commission to create rules for their approval and oversight, ensuring they benefit customers in their service territories. 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 long-term planning horizons and a comparative analysis of resource mixes. The commission is tasked with ensuring public access to information while protecting necessary confidential data and may employ additional staff or contract services to assist in the development and evaluation of these plans.

Statutes affected:
Introduced: 476.6