VA SB621

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, which may be consolidated with integrated resource plan filings

Mandates utilities include specific metrics in their petitions: distribution system peak load ratios, current vs. potential deliverable load ratios, electricity loss percentages during distribution, constrained circuit analysis, and 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 cost recovery decisions for capital investments

Requires the Commission's annual report to include findings on utility performance against approved metrics and analysis of potential for increasing grid utilization through non-wires alternatives such as energy storage, distributed generation, and virtual power plants

Utilities must assess current system performance against metrics in subsequent integrated resource plan filings and may propose new or modified metrics for Commission approval