VA HB434

Requires Phase I and Phase II electric utilities to petition the State Corporation Commission by October 15, 2026, for approval of electric grid utilization metrics

Mandates utilities include specific metrics in their petitions: ratio of distribution system peak load to total capacity, ratio of current load to potential deliverable load, percentage of electricity lost during distribution, analysis of constrained circuits, and evaluation of distribution system performance at peak times

Directs the Commission to determine approved metrics, establish timelines for utilities to increase grid utilization, and specify how metrics may inform future utility requests for capital investment cost recovery

Requires utilities to include grid utilization assessments in subsequent integrated resource plan filings and allows them to propose new or modified metrics

Orders the Commission to include in its annual report an analysis of utilities' potential to increase grid utilization through non-wires alternatives, including energy storage, distributed generation, virtual power plants, and power quality monitoring equipment for large customers (25+ megawatts)