Declares an intent to establish a goal of encouraging the construction and development of renewable energy in the state of Washington to meet increasing demands for affordable and reliable electricity. Since electricity supply may lag behind electricity demand, the result may be a sharp increase in electricity prices.

Finds that it is desirable to shorten the time it takes to bring new electricity generation to market.

Requires each electric utility to develop an integrated resource plan consistent with the provisions of this act. Such a plan shall be updated on a regular basis.

Requires investor-owned utilities to submit integrated resource plans to the commission. The commission shall establish by rule the requirements for preparation and submission of integrated resource plans.

Requires each consumer-owned utility to develop and publish a work schedule for the preparation of an integrated resource plan. The work schedule shall set forth the proposed content of the integrated resource plan, the proposed schedule of preparation, and provisions for public involvement in the preparation and review of the plan.

Directs each consumer-owned utility to transmit a copy of its integrated resource plan to the department by July 31, 2006, and transmit subsequent plans every two years thereafter.

Authorizes consumer-owned utilities to develop integrated resource plans jointly with other consumer-owned utilities. Data and assessments included in joint reports must be identifiable to each individual utility.

Requires the department to review the integrated resource plans of consumer-owned utilities and prepare a report to the legislature assessing the utilities' conformance with this act. The report shall include a statewide summary of utility load forecasts, load/resource balance, and utility plans for the development of thermal generation, renewable resources, and efficiency resources. The commission shall provide the department with data summarizing activities of investor-owned utilities for use in the department's statewide summary.

Requires the department to submit the initial report by December 1, 2006, and subsequent reports every two years thereafter. Where appropriate, the department may include reports required by this act within the biennial report required under RCW 43.21F.045.