Electric rates; any distribution electric cooperative may, without SCC approval, make adjustment. (HB1819)
Introduced By
Del. Terry Kilgore (R-Gate City) with support from co-patron Del. Albert Pollard (D-Lively)
Progress
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Introduced |
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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 |
Description
Electric rates of distribution cooperatives. Authorizes any distribution electric cooperative, without State Corporation Commission approval, to make any adjustment to its rates reasonably calculated to collect any or all of the fixed costs of owning and operating its electric distribution system through a new or modified fixed monthly charge. Such monthly charge would be in lieu of charges that are based on the volume of use of electric energy. Such changes in rates may be adopted upon an affirmative resolution of the cooperative's board of directors and shall be revenue neutral based on the cooperative's most recent cost-of-service study. Adjustments may be phased in over a three-year period, and revised tariffs are required to be filed with the State Corporation Commission for information purposes. Amends § 56-585.3 (“Regulation of cooperative rates after rate caps.”), of the Code of Virginia. View Full Text »
