(1) Electric utilities that invest in energy transformation projects as a means to assist in meeting the greenhouse gas neutral standard in RCW 19.405.040 must fulfill the requirements of this chapter.

(2) A project intended to serve as an energy transformation project must conform to a project category included in the list of eligible categories of energy transformation projects established through the process in WAC 173-444-060.

(3) Electric utilities that invest in energy transformation projects must use the criteria established through the requirements and processes in WAC 173-444-070.

(4) Electric utilities that invest in energy transformation projects must use the verification methods, reporting standards, and other procedures established in WAC 173-444-080.

(5) The commission, the governing boards of consumer-owned utilities, or the department of commerce may have rules or requirements related to energy transformation projects in addition to the requirements of this chapter. Fulfilling the requirements of this chapter is a necessary, but not final, step toward receiving approval for a candidate project intended as an energy transformation project under chapter 19.405 RCW. Fulfilling the requirements of this chapter does not provide a basis for guaranteeing a positive decision by an approving body for a candidate project intended as an energy transformation project.

(6) Approval or rejection of a particular energy transformation project occurs through the governing boards of consumer-owned utilities, the commission, or other applicable approving bodies with the necessary jurisdiction over the financial decisions of the electric utility or utilities proposing the candidate energy transformation project.