SB91: Electricity rates; adjustment clauses.

Chief Patron

Sen. Roscoe Reynolds (D-20)

Roscoe Reynolds (D-20)
Served: 1997–

Progress

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

Status

02/04/2008: Failed to Pass in Committee

View Entire History

Summary

Electricity rates; adjustment clauses.  Provides the State Corporation Commission with authority to review the recovery by electric utilities of certain expenses that will be recoverable under current law through rate adjustment clauses. The utility expenses will instead be subject to review as part of the biennial rate review of the utility's total revenues and expenses. Items that are scheduled to be recoverable through rate adjustment clauses include (i) costs for transmission services; (ii) deferred environmental and reliability costs; (iii) costs of providing incentives for the utility to design and operate fair and effective demand-management, conservation, energy efficiency, and load management programs; (iv) costs of participation in the renewable energy portfolio standard program; (v) costs of projects that the SCC finds to be necessary to comply with state or federal environmental laws or regulations applicable to generation facilities used to serve the utility’s native load obligations, and (vi) costs of certain generation projects, including Dominion's proposed coal-fired plant in Southwest Virginia. Provisions that limit the SCC's discretion regarding any incentive return for new generation facilities are repealed.