Electric utility regulation; suspension of regulatory reviews of utility earnings. (SB1349)
Introduced By
Sen. Frank Wagner (R-Virginia Beach)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Electric utility regulation; suspension of reviews of earnings. Bars the State Corporation Commission (SCC) from conducting a biennial review of the rates, terms, and conditions for any service of Dominion Virginia Power for the eight test periods beginning January 1, 2013, and ending December 31, 2020. The utility is directed not to make biennial review filings in 2016 through 2022. The SCC is directed to dismiss any biennial review initiated in 2015 without making findings or determinations and is barred from adjusting the utility's rates until the conclusion of the 2023 biennial review, with certain exceptions. The SCC is directed to conduct biennial proceedings from 2017 through 2021 to determine what constitutes the utility's fair rate of return on common equity for use in connection with rate adjustment clauses. The measure also requires each electric utility to file updated integrated resource plans annually starting in 2015; currently, such updates are required to be filed biennially. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/19/2015 | Presented and ordered printed 15103173D |
01/19/2015 | Referred to Committee on Commerce and Labor |
01/23/2015 | Assigned C&L sub: Special to examine the EPA's Proposed Clean Power Plan |
01/27/2015 | Impact statement from SCC (SB1349) |
02/02/2015 | Reported from Commerce and Labor with substitute (14-Y 1-N) (see vote tally) |
02/02/2015 | Committee substitute printed 15104649D-S1 |
02/04/2015 | Constitutional reading dispensed (37-Y 0-N) (see vote tally) |
02/05/2015 | Read second time |
02/05/2015 | Reading of substitute waived |
02/05/2015 | Committee substitute rejected 15104649D-S1 |
02/05/2015 | Floor substitute printed 15104860D-S2 (Wagner) |
02/05/2015 | Amendments by Senator McEachin withdrawn |
02/05/2015 | Substitute by Senator Wagner agreed to 15104860D-S2 |
02/05/2015 | Passed by for the day |
02/06/2015 | Read second time |
02/06/2015 | Reading of amendment waived |
02/06/2015 | Amendment by Senator Wagner agreed to |
02/06/2015 | Amendment by Senator Saslaw agreed to |
02/06/2015 | Passed by temporarily |
02/06/2015 | Amendment #3 by Senator McEachin withdrawn |
02/06/2015 | Amendments #'s 1,2,4,5 by Senator McEachin agreed to |
02/06/2015 | Amendment by Senator Alexander agreed to |
02/06/2015 | Engrossed by Senate - committee substitute with amendments SB1349ES2 |
02/06/2015 | Printed as engrossed 15104860D-ES2 |
02/06/2015 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
02/06/2015 | Passed Senate (32-Y 6-N) (see vote tally) |
02/09/2015 | Placed on Calendar |
02/09/2015 | Read first time |
02/09/2015 | Referred to Committee on Commerce and Labor |
02/10/2015 | Reported from Commerce and Labor (14-Y 7-N) (see vote tally) |
02/11/2015 | Read second time |
02/12/2015 | Read third time |
02/12/2015 | Pending question ordered |
02/12/2015 | Passed House (72-Y 24-N 2-A) |
02/12/2015 | Impact statement from SCC (SB1349S1) |
02/12/2015 | Impact statement from SCC (SB1349S2) |
02/12/2015 | VOTE: PASSAGE (72-Y 24-N 2-A) (see vote tally) |
02/13/2015 | Enrolled |
02/13/2015 | Bill text as passed Senate and House (SB1349ER) |
02/13/2015 | Impact statement from SCC (SB1349ES2) |
02/13/2015 | Signed by Speaker |
02/16/2015 | Signed by President |
02/17/2015 | Enrolled Bill communicated to Governor on 2/17/15 |
02/17/2015 | G Governor's Action Deadline Midnight, Tuesday, February 24, 2015 |
02/18/2015 | Impact statement from SCC (SB1349ER) |
02/24/2015 | G Approved by Governor-Chapter 6 (effective 7/1/15) |
02/24/2015 | G Acts of Assembly Chapter text (CHAP0006) |
Comments
This bill made front page news this morning in The News Leader (Staunton, 1/26/15).According to the article, if this bill passes, "Dominion Virginia Power (DVP) would be allowed to avoid state regulation for eight years while having the ability to increase consumers' electric bills. DVP would maintain its base rate for eight years but would retain authority to increase fuel sur charges & other "riders" that are dded to customers' utility bills. The base rate typically makes up just over half of a customer's utility bill. The riders, known as rate adjustment clauses (RACs) would still require SCC approval but w/o taking into account DVP's "costs, revenues, investments or earnings". The SCC would forego reviewing DVP every two years, and would not be able to again until 2020. The Virginia Attorney General's office, which represents consumers in rate cases, said that the bill would eliminate SCC oversight, freeing Dominion to raise fees on consumers.
Please email the Senate Commerce and Labor Committee and ask them to vote NO on SB 1349.
I would like to see new legislation passed dis-allowing any utility company from disconnecting service without a minimum 10 day Notice.
A pre-paid account should not automate cut-off when "one" of the utilities' sets of books hits a "0" - when they are documented using multiple sets of accounting books for record-keeping.
This is a serious matter affecting thousands of Virginians whose electric power has been "disconnected" on Weekends, Holidays, or other days with less than 24 hours notice, whereby NO FORM of PAYMENT could be made other than electronic commerce, seriously discriminating against all Individuals who do not operate daily, or are unable to operate in commerce, with "credit". This is also a Public Health and Welfare issue, as any Virginian with medically-necessary utility co-dependence has little to zero remedy, with potentially life-threatening damages.
Please advise if you are willing to meet to discuss this issue - or have guidelines available for how the bill needs to be properly drafted for consideration
This bill is another way to allow electric utilities to abuse their customers while making record profits. Should absolutely not be passed. Shame on those that vote for this.
marshamaines I would love to get a group together to discuss not only the cut off notices but the constant adding of "deposits" whenever they please without justification. Please look me up on facebook and send me some contact info. I have many in my area ready to go.
It is appalling that this bill passed the Senate. This bill is a huge, inexcusable gift to Dominion, a utility that has chosen to be regulated. It speaks very poorly of the General Assembly and our campaign finance / ethics processes that this bill sailed through the Senate. Good for Creigh Deeds (D-25), Adam Ebbin (D-30), John Edwards (D-21) Steve Newman (R-23), Chap Petersen (D-34), and Jennifer Wexton (D-33) for voting against it. Without a huge public outcry, I can't see it failing in the House.
Dominion is the largest campaign finance contributor in Virginia. I have to assume that many years of investing in legislators led to this bill, from which they will make many, many times their investment, on the backs of Virginians.
It seems like another politician that is getting paid by a big corporation to fatten his pockets by fattening theirs. Time to change this dirty diaper for a clean one...