The proposed bill aims to establish the "Advanced-Baseload Energy Development Act" in West Virginia, which includes the creation of the Advanced Energy Division within the Office of Energy. This division will be responsible for promoting and assisting in the development of advanced-baseload energy projects, which are defined as facilities producing electricity from advanced nuclear reactors or hydrogen derived from coal or natural gas, utilizing carbon capture and sequestration technologies. The bill outlines various duties for the division, including providing technical assistance, coordinating state-level permitting, and maintaining a registry of qualified project sites. Additionally, it establishes the Advanced-Baseload Energy Fund to support financing incentives for these projects and authorizes tax incentives, community benefit agreements, and provisions for public utilities to recover project costs.

Furthermore, the bill allows advanced-baseload energy projects to be integrated into certified microgrid districts and to supply power to high-impact data centers. It includes provisions for public utilities to form partnerships for project development and to enter long-term power purchase agreements. The legislation also grants the Public Service Commission the authority to approve rate allowances for the recovery of development costs associated with advanced energy projects, ensuring that any cost recovery does not exceed a specified increase in residential utility bills. Overall, the bill seeks to create a robust ecosystem for advanced energy development in West Virginia, promoting economic growth and energy reliability.

Statutes affected:
Introduced Version: 5B-2P-1, 5B-2P-2, 5B-2P-3, 5B-2P-4, 5B-2P-5, 5B-2P-6, 5B-2P-7, 5B-2P-8, 5B-2P-9, 24-2-4i