Electric utility regulation; SCC to regulate rate for services of investor-owned electric utilities. (SB680)
Introduced By
Sen. Phil Puckett (D-Tazewell) with support from co-patrons Del. Anne Crockett-Stark (R-Wytheville), and Del. Will Morefield (R-North Tazewell)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Electric utility regulation. Reinstates provisions governing the authority of the State Corporation Commission (SCC) to regulate the rates for services of investor-owned electric utilities that existed prior to the enactment of the Electric Utility Restructuring Act in 1999 and of electric utility re-regulation legislation in 2007. Specifically, the measure eliminates, for rate cases initiated after January 1, 2011, rules that authorize such utilities to earn a rate of return on common equity that is not lower than the average of such returns for a majority of peer group utilities, and to recover certain costs through rate adjustment clauses. In rate cases initiated in 2011 and thereafter the SCC is directed to determine rates, terms, and conditions for the provision of generation, distribution, and transmission services for each investor-owned incumbent electric utility that are just, reasonable, and nondiscriminatory. These proceedings shall be governed by the provisions of Chapter 10 of Title 56 and shall provide fair rates of return on common equity. In such proceedings, the SCC may use any methodology to determine rates of return on common equity that it finds consistent with the public interest. The SCC is authorized to permit a utility to recover its actual costs, if the Commission finds such recovery is just, reasonable, and in the public interest, of peak-shaving programs, energy efficiency programs, participating in the renewable energy portfolio standard program, and environmental projects. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/22/2010 | Presented and ordered printed 10104162D |
01/22/2010 | Referred to Committee on Commerce and Labor |
02/01/2010 | Impact statement from SCC (SB680) |
02/08/2010 | Reported from Commerce and Labor with substitute (15-Y 0-N) (see vote tally) |
02/08/2010 | Committee substitute printed 10105148D-S1 |
02/10/2010 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
02/10/2010 | Read second time |
02/10/2010 | Reading of substitute waived |
02/10/2010 | Committee substitute agreed to 10105148D-S1 |
02/10/2010 | Emergency clause added |
02/10/2010 | Reading of amendment waived |
02/10/2010 | Amendment by Senator Puckett agreed to |
02/10/2010 | Engrossed by Senate - committee substitute with amendment SB680ES1 |
02/10/2010 | Passed by for the day |
02/10/2010 | Printed as engrossed 10105148D-ES1 |
02/11/2010 | Read third time and passed Senate (40-Y 0-N) (see vote tally) |
02/15/2010 | Placed on Calendar |
02/15/2010 | Read first time |
02/15/2010 | Referred to Committee on Commerce and Labor |
02/16/2010 | Impact statement from SCC (SB680ES1) |
02/16/2010 | Reported from Commerce and Labor (22-Y 0-N) (see vote tally) |
02/17/2010 | Read second time |
02/17/2010 | Constitutional reading dispensed (91-Y 0-N) |
02/17/2010 | VOTE: --- AGREE TO (91-Y 0-N) (see vote tally) |
02/17/2010 | Floor substitute printed 10105450D-H1 (Armstrong) |
02/17/2010 | Speaker ruled substitute by Delegate Armstrong not germane |
02/17/2010 | Passed House (93-Y 0-N) |
02/17/2010 | VOTE: --- PASSAGE EMERGENCY (93-Y 0-N) (see vote tally) |
02/17/2010 | Bill text as passed Senate and House (SB680ER) |
02/17/2010 | Enrolled |
02/17/2010 | Signed by Speaker |
02/18/2010 | Signed by President |
02/19/2010 | Signed by Speaker |
02/19/2010 | Signed by President |
02/19/2010 | Impact statement from SCC (SB680ER) |
02/24/2010 | G Approved by Governor-Chapter 1 (effective 2/24/10) |
02/24/2010 | G Acts of Assembly Chapter text (CHAP0001) |
Video
This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 2 clips in all, totaling 13 minutes.