VA SB249

Extends integrated resource plan (IRP) planning periods from 15 to 20 years and requires utilities to file updated plans triennially starting in 2027 for Phase II Utilities and 2028 for Phase I Utilities, with annual updates in non-filing years

Mandates that IRPs identify a single preferred portfolio that considers the social cost of carbon in generation operating costs, meets renewable portfolio standards, and includes plans for retiring carbon-emitting facilities

Requires utilities to evaluate grid-enhancing technologies including advanced conductors, dynamic line ratings, virtual power plants, and surplus interconnection service before proposing new transmission infrastructure

Establishes a stakeholder review process facilitated by a Commission-selected third-party facilitator, with requirements that utilities provide stakeholders access to modeling software, assumptions, and data to create their own scenarios

Directs the State Corporation Commission to convene a stakeholder work group with findings due by March 1, 2027, and to establish IRP guidelines by regulation no later than September 1, 2027