To comply with the Virginia Clean Economy Act (VCEA) passed earlier this year, Appalachian Power will move to acquire or contract 210 MW of solar power and 200 MW of wind power over the next five years, according to filings the company made this week.
Such acquisitions would allow it to fulfill obligations required by the VCEA’s goal for utilities to become carbon free by 2050. Building on that, Appalachian Power also expects to add 3,400 MW of solar, 2,200 MW of on-shore wind, and 400 MW of energy storage by 2050 to supplement existing wind and hydro resources.
“Our blueprint meets the law’s requirements while keeping customer costs as low as possible,” Chris Beam, Appalachian Power president and COO, said. “What we filed today is a well thought out plan that not only relies on existing resources but carefully expands our renewables portfolio in the Commonwealth while minimizing customer impacts over the next 30 years.”
Appalachian Power no longer owns or operates coal-fueled generation plants in Virginia. Its last was already converted to natural gas but still expects to close in 2025. The VCEA requires all utilities to schedule to close fossil fuel plants operating within Virginia.
For customers, however, these changes will likely bring higher bills. Appalachian Power framed this as a consequence of the VCEA’s annual requirements, which have caused it to add more renewables. Related costs could add around 3.5 percent to residential customers’ bills over the next five years, although the amount will vary depending on customer class and usage.
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