Saturday, October 11, 2008
The General Assembly is not in session.
Tracking Virginia’s General Assembly
since 2007.
SB1191: Electric Utility Restructuring Act; capped rates and default service.
Chief Patron
Sen.
Roscoe Reynolds (D-20)
Roscoe Reynolds
(D-20)
Served: 1997–
Progress
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Introduced |
 |
Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Status
Bill is Dead
Summary
Electric utility restructuring. Extends the period during which rates for electric service are capped from December 31, 2010, until July 1, 2013. The measure also provides that, upon the end of the capped rate period, rates for default service provided by distributors will be based on prudently incurred costs, rather than on prices in competitive regional electricity markets. Other provisions clarify that the capped rates and default service rates for utilities that have divested their generation assets will be determined in a manner consistent with the terms of the orders of the State Corporation Commission approving the transfer of such assets. The measure also revises the criteria for adjustments to capped rates to provide that, rather than being allowed to recover increases in transmission and distribution reliability and environmental costs through single-issue proceedings, after July 1, 2007, certain utilities may seek to recover increased costs through annual full rate cases.
View Full Text »Poll Results
No Richmond Sunlight visitors voted on this bill while voting was open.
