Electric utility regulation; recovery of costs of offshore wind facilities, etc. (SB643)
Introduced By
Sen. Don McEachin (D-Richmond)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Electric utilities; costs of offshore wind facilities. Requires a utility planning or developing a generating facility utilizing energy derived from offshore wind to cease deferral of at least 70 percent of any previously deferred or capitalized costs associated with such facility that the utility incurred between July 1, 2007, and December 31, 2013. This portion of the costs shall be (i) eligible for recovery only through the utility's base rates as a current period expense and (ii) deemed to have been reasonably and prudently incurred. The measure authorizes the State Corporation Commission to permit the utility to restore to common equity of the utility's capital structure any amounts charged to period expense resulting from this provision. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/17/2014 | Presented and ordered printed 14103810D |
01/17/2014 | Referred to Committee on Commerce and Labor |
01/23/2014 | Impact statement from SCC (SB643) |
02/10/2014 | Reported from Commerce and Labor with substitute (16-Y 0-N) (see vote tally) |
02/10/2014 | Committee substitute printed 14104958D-S1 |
02/11/2014 | Read first time |
02/11/2014 | Constitutional reading dispensed (37-Y 0-N) |
02/11/2014 | Reading of substitute waived |
02/11/2014 | Committee substitute agreed to 14104958D-S1 |
02/11/2014 | Engrossed by Senate - committee substitute SB643S1 |
02/11/2014 | Constitutional reading dispensed (40-Y 0-N) |
02/11/2014 | Passed Senate (40-Y 0-N) |
02/13/2014 | Placed on Calendar |
02/13/2014 | Read first time |
02/13/2014 | Referred to Committee on Commerce and Labor |
02/18/2014 | Reported from Commerce and Labor with amendments (18-Y 2-N) (see vote tally) |
02/19/2014 | Impact statement from SCC (SB643S1) |
02/20/2014 | Read second time |
02/21/2014 | Passed by for the day |
02/24/2014 | Read third time |
02/24/2014 | Committee amendments agreed to |
02/24/2014 | Engrossed by House as amended |
02/24/2014 | Passed House with amendments (77-Y 19-N 3-A) |
02/24/2014 | VOTE: PASSAGE (77-Y 19-N 3-A) (see vote tally) |
02/26/2014 | House amendments agreed to by Senate (30-Y 7-N 2-A) |
02/28/2014 | Enrolled |
02/28/2014 | Bill text as passed Senate and House (SB643ER) |
02/28/2014 | Impact statement from SCC (SB643ER) |
03/03/2014 | Signed by Speaker |
03/03/2014 | Signed by President |
04/03/2014 | G Approved by Governor-Chapter 550 (effective 7/1/14) |
04/03/2014 | G Acts of Assembly Chapter text (CHAP0550) |