Electric utility rates; margins from off-system sales. (SB21)

Introduced By

Sen. Roscoe Reynolds (D-Martinsville)

Description

Electric utility rates; margins from off-system sales. Eliminates the requirement that 75 percent of the total annual margins from an electric utility's off-system sales of power be credited against the utility's fuel factor expenses, in the absence of a finding by clear and convincing evidence that a smaller percentage is in the public interest. The measure provides that the State Corporation Commission shall determine the percentage of such margins to be credited against fuel factor expenses that is in the public interest. Amends § 56-249.6 (“Recovery of fuel and purchased power costs.”), of the Code of Virginia. View Full Text »

Outcome

1 vote