Electrical generation; base rates of return for certain types thereof. (SB1248)
Introduced By
Sen. Ralph Northam (D-Norfolk)
Progress
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Introduced |
√ |
Passed Committee |
√ |
Passed House |
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Passed Senate |
X |
Signed by Governor |
X |
Became Law |
Description
Electric energy efficiency standards. Establishes an energy efficiency standard under which investor-owned electric utilities are required to reduce the consumption by their retail customers in the Commonwealth, through implementation of energy efficiency and conservation programs, in 2025 by 19 percent compared to the consumption level currently projected for such year. Between 2010 and 2025, utilities are required to meet interim benchmarks established by the State Corporation Commission (SCC), which may be amended due to such factors as economic growth, the addition of load to serve plug-in vehicles, or regulatory, economic, or technological reasons beyond the utility's control. If a utility fails to comply with a benchmark, it is required to pay an alternate compliance payment in an amount not to exceed 3 cents per kilowatt hour consumed in excess of the benchmark amount. A utility's energy efficiency and conservation programs shall be reported in its integrated resource plans. Amends § 56-576 (“Definitions.”), § 56-585.1 (“Generation, distribution, and transmission rates after capped rates terminate or expire.”), § 56-585.3 (“Regulation of cooperative rates after rate caps.”), § 67-202.1 (“Annual reporting by investor-owned public utilities.”), of the Code of Virginia. View Full Text »
