Steps to Advance Virginia's Energy Plan (SAVE) Act; created. (SB112)
Introduced By
Sen. Chap Petersen (D-Fairfax)
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
Natural gas utilities; cost recovery for certain infrastructure improvement costs. Authorizes investor-owned natural gas utilities to petition the State Corporation Commission to implement a separate rider that will allow for recovery of certain costs associated with eligible infrastructure replacement projects. Eligible infrastructure replacement projects are projects that: (i) enhance safety or reliability by reducing system integrity risks associated with customer outages, corrosion, equipment failures, material failures, natural forces or other outside force damage; (ii) do not increase revenues by directly connecting the infrastructure replacement to new customers; (iii) reduce greenhouse gas emissions; and (iv) are not included in the natural gas utility's rate base in its most recent rate case. The costs recoverable from an eligible infrastructure replacement project include a return on the investment, depreciation, property taxes, and carrying costs on the over- or under- recovery of the eligible infrastructure replacement costs. View Full Text »
