Electric utility regulation; recovery of certain generation facility costs, etc. (HB1059)

Introduced By

Del. Terry Kilgore (R-Gate City)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Electric utilities; generation facility cost recovery. Requires an electric utility to establish a regulatory asset for regulatory accounting and ratemaking purposes under which it shall defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant and certain related work. These deferred O&M costs shall be amortized over the refueling cycle, but in no case for more than 18 months. The State Corporation Commission (SCC) is required to treat the deferred and amortized costs of such regulatory asset as part of the utility's costs for the purpose of certain proceedings. The measure also limits the portion of the costs incurred by an electric utility between July 1, 2007, and December 31, 2013, in developing a nuclear power facility or offshore wind facility that are recoverable through a rate adjustment clause to 30 percent of such amount. The remaining 70 percent of such costs may be recovered through existing base rates as determined by the SCC in the test periods under review in the utility's next biennial review filed after July 1, 2014. All of the costs incurred after December 31, 2013, may be deferred for recovery through a rate adjustment clause as may be approved by the SCC. The measure also states that the planning and development activities for new nuclear generation facilities and generation facilities utilizing energy derived from offshore wind are in the public interest. Finally, the measure also rewords a provision that currently states that nothing precludes the Commission from determining the reasonableness or prudence of any cost incurred or projected to be incurred by a utility. Read the Bill »


Bill Has Failed


01/08/2014Presented and ordered printed 14103508D
01/08/2014Referred to Committee on Commerce and Labor
01/15/2014Assigned C & L sub: Special Subcommittee on Energy
01/23/2014Impact statement from SCC (HB1059)
01/30/2014Subcommittee recommends reporting with amendment(s) (10-Y 2-N)
02/04/2014Reported from Commerce and Labor with substitute (18-Y 2-N) (see vote tally)
02/04/2014Committee substitute printed 14104219D-H1
02/06/2014Read first time
02/07/2014Passed by for the day
02/10/2014Read second time
02/10/2014Committee substitute agreed to 14104219D-H1
02/10/2014Amendments # 1-4 and 6-9 by Delegate Ware rejected
02/10/2014Amendments # 5 and 10 by Delegate Ware rejected
02/10/2014Engrossed by House - committee substitute HB1059H1
02/11/2014Read third time and passed House (73-Y 23-N 2-A)
02/11/2014VOTE: PASSAGE (73-Y 23-N 2-A) (see vote tally)
02/11/2014Reconsideration of passage agreed to by House
02/11/2014Passed House (76-Y 20-N 3-A)
02/11/2014VOTE: PASSAGE #2 (76-Y 20-N 3-A) (see vote tally)
02/12/2014Constitutional reading dispensed
02/12/2014Referred to Committee on Commerce and Labor
02/17/2014Impact statement from SCC (HB1059H1)
03/03/2014Continued to 2015 in Commerce and Labor (13-Y 0-N) (see vote tally)
12/04/2014Left in Commerce and Labor