HB3050: Electric utilities; repeals provisions of Electric Utility Restructuring Act.

Chief Patron

Del. Harvey Morgan (R-98)

Harvey Morgan (R-98)
Gloucester, VA
Served: 1980–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

Bill is Dead

View Entire History

Summary

Electric utilities.  Repeals provisions of the Virginia Electric Utility Restructuring Act effective January 1, 2008. The measure authorizes the State Corporation Commission to provide for recovery of the costs of new generation facilities through the utility's rate base or through rate surcharges, adders, or other recovery mechanisms as are in the public interest. The Commission is also authorized to approve a performance-based rate-making methodology for electric utilities, which tracks the current provision for gas utilities. Provisions of the Restructuring Act that are not repealed by this measure include those that address the construction of a coal-fired plant in Southwest Virginia, net energy metering, electric energy emergencies, and permitting for electrical generating facilities.