A. The Legislature declares that it is in the public interest to promote natural gas energy development in order to take advantage of our state's vast natural gas resources and its compatibility with wind energy.

B. It is further declared the intent of the Legislature to promote natural gas energy development in this state by establishing a natural gas energy standard to increase the use of natural gas as an electricity generation fuel.

C. There is hereby established a natural gas energy standard to supplement the increased volume of renewable energy and to capitalize on the state's abundant natural gas resources. The natural gas energy standard shall be achieved by declaring natural gas as the preferred choice of electric generation for new fossil fuel generating facilities in this state after the effective date of this act through January 1, 2020.

D. Beginning January 1, 2011, through January 1, 2020, it is the intent of the state that new fossil fuel generating facilities and added capacity to existing fossil fuel generating facilities built in this state be powered by natural gas. Any electricity generating entity in the state choosing a fossil fuel source other than natural gas may provide evidence to the Corporation Commission, or other appropriate regulatory body of those entities not regulated by the Commission, that the fossil fuel source chosen by such entity is in the best interest of this state's electric consumers.