VA SB371

Requires Phase I and Phase II electric utilities to file demand flexibility programs with the State Corporation Commission by January 15, 2027, targeting high energy demand customers (25+ megawatts with 75%+ load factor)

Defines demand flexibility as lowering or shifting electric grid load from peak to off-peak periods, including through customer load reductions, energy storage, weatherization, heat pump conversions, and virtual power plants

Requires electric cooperatives serving high energy demand customers to establish voluntary demand flexibility programs by January 1, 2029, with technical work groups to develop proposals by September 30, 2027

Prohibits carbon-emitting generation resources from qualifying for demand flexibility credits and requires programs to minimize emissions and environmental impacts

Mandates triennial status reports from utilities on program performance and annual Commission reports to the General Assembly starting September 1, 2028