Electric utility regulation; recovery of costs of new underground distribution facilities. (SB585)

Introduced By

Sen. Dick Saslaw (D-Springfield) with support from 9 copatrons, whose average partisan position is:

Those copatrons are Sen. Janet Howell (D-Reston), Sen. Don McEachin (D-Richmond), Sen. Jeff McWaters (R-Virginia Beach), Sen. Tommy Norment (R-Williamsburg), Sen. Ralph Northam (D-Norfolk), Sen. Walter Stosch (R-Glen Allen), Sen. Richard Stuart (R-Westmoreland), Sen. Jill Holtzman Vogel (R-Winchester), Sen. John Watkins (R-Midlothian)

Progress

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

Description

Electric utility regulation; recovery of costs of new underground distribution facilities. Authorizes investor-owned electric utilities to recover the costs of new underground distribution facilities through a rate adjustment clause. Eligible facilities will replace existing overhead distribution facilities of 69 kilovolts or less. A utility shall not seek any annual incremental increase in the level of investments in such facilities that exceeds five percent of the utility's distribution rate base. In determining whether to approve a rate adjustment clause for such facilities, the State Corporation Commission is directed to liberally construe the provisions of Title 56 and to give due consideration to the public policy goals of increased electric service reliability and reduced outage times associated with the replacement of existing overhead distribution facilities with new underground facilities. None of the costs of such new facilities shall be allocated to customers in the large general service rate class. Amends § 56-576, § 56-585.1, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/10/2014Presented and ordered printed 14101925D
01/10/2014Referred to Committee on Commerce and Labor
01/23/2014Impact statement from SCC (SB585)
01/27/2014Reported from Commerce and Labor with substitute (15-Y 0-N) (see vote tally)
01/27/2014Committee substitute printed 14104129D-S1
01/29/2014Constitutional reading dispensed (40-Y 0-N)
01/30/2014Read second time
01/30/2014Reading of substitute waived
01/30/2014Committee substitute agreed to 14104129D-S1
01/30/2014Engrossed by Senate - committee substitute SB585S1
01/31/2014Read third time and passed Senate (39-Y 1-N)
02/04/2014Impact statement from SCC (SB585S1)
02/07/2014Placed on Calendar
02/07/2014Read first time
02/07/2014Referred to Committee on Commerce and Labor
02/18/2014Reported from Commerce and Labor (18-Y 2-N) (see vote tally)
02/20/2014Read second time
02/21/2014Passed by for the day
02/24/2014Read third time
02/24/2014Passed House (86-Y 10-N 3-A)
02/24/2014VOTE: PASSAGE (86-Y 10-N 3-A) (see vote tally)
02/26/2014Enrolled
02/26/2014Bill text as passed Senate and House (SB585ER)
02/26/2014Signed by Speaker
02/27/2014Impact statement from SCC (SB585ER)
02/28/2014Signed by President
04/03/2014G Approved by Governor-Chapter 548 (effective 7/1/14)
04/03/2014G Acts of Assembly Chapter text (CHAP0548)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 5 minutes.

Duplicate Bills

The following bills are identical to this one: HB848.