IA HF2668

Defines virtual power plants as collections of customer-owned distributed generation resources and energy storage devices managed by a common control mechanism, located within a rate-regulated electric utility's service territory

Exempts virtual power plants from being classified as public utilities, while requiring the utilities commission to establish approval processes and oversight standards for their operation

Mandates that virtual power plants must demonstrate benefits to customers in the service territory before receiving commission approval or continued operation

Requires each rate-regulated public utility to file an integrated resource plan every five years beginning July 1, 2028, with both 5-year and 20-year planning horizons

Integrated resource plans must include quantitative analysis of multiple resource mixes, customer cost assessments, energy efficiency and demand response resources, transmission and distribution upgrade plans, and annual performance reporting