Encourages the development of cost-effective, highly efficient, and environmentally sound supply resources to provide reliability.

Finds that federal regulation of emissions of greenhouse gases is likely to occur in the near future.

Declares it is vital to ensure all electricity load-serving entities internalize the significant and underrecognized cost of greenhouse gas emissions and to reduce Washington's exposure to costs associated with future federal regulation of these emissions.

Declares an intent to establish a greenhouse gases emission performance standard for utility procurement of baseload generation that is set no lower than levels achieved by a new combined-cycle natural gas turbine.