Electric utilities; costs of modifications to nuclear generation facilities. (HB2291)

Introduced By

Del. Terry Kilgore (R-Gate City) with support from co-patron Del. Ron Villanueva (R-Virginia Beach)

Progress

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

Description

Electric utilities; costs of modifications to nuclear generation facilities. Authorizes an investor-owned electric utility to petition the State Corporation Commission for approval of a rate adjustment clause for recovery of the costs of a system or equipment upgrade, system or equipment replacement, or other cost reasonably appropriate to extend the combined operating license for, or the operating life of, nuclear generation facilities. The measure also (i) limits the scope of the requirement that a utility demonstrate that it has considered and weighed alternative options, including third-party market alternatives, in its selection process to certain new generation facilities; (ii) provides that a utility that makes modifications to certain generation facilities has the right to recover costs and an enhanced rate of return on common equity to the same extent currently provided for the construction of new generation facilities; (iii) limits the provision that sets the enhanced rate of return at 100 basis points above the utility's general rate of return to the construction of certain new generation facilities; and (iv) provides that a utility's costs of incurred in extending the combined operating license for, or the operating life of, a nuclear generation facility, which costs are prudently incurred prior to the Commission's entry of a final order on the petition, shall be deferred on the books and records of the utility until the later of the entry of a final order in the proceeding or until the implementation of any applicable approved rate adjustment clauses. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/11/2017Committee
01/11/2017Presented and ordered printed 17103327D
01/11/2017Referred to Committee on Commerce and Labor
01/17/2017Impact statement from SCC (HB2291)
01/19/2017Reported from Commerce and Labor with amendment (19-Y 0-N) (see vote tally)
01/23/2017Read first time
01/24/2017Read second time
01/24/2017Committee amendment agreed to
01/24/2017Engrossed by House as amended HB2291E
01/24/2017Printed as engrossed 17103327D-E
01/25/2017Passed by for the day
01/26/2017Read third time and passed House (93-Y 3-N 2-A)
01/26/2017VOTE: PASSAGE (93-Y 3-N 2-A) (see vote tally)
01/27/2017Constitutional reading dispensed
01/27/2017Referred to Committee on Commerce and Labor
02/13/2017Reported from Commerce and Labor (14-Y 0-N) (see vote tally)
02/15/2017Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/16/2017Read third time
02/16/2017Reading of amendment waived
02/16/2017Amendment by Senator Wagner agreed to
02/16/2017Engrossed by Senate as amended
02/16/2017Passed Senate with amendment (37-Y 3-N) (see vote tally)
02/20/2017Placed on Calendar
02/20/2017Senate amendment agreed to by House (92-Y 1-N 2-A)
02/20/2017VOTE: ADOPTION (92-Y 1-N 2-A) (see vote tally)
02/22/2017Impact statement from SCC (HB2291E)
02/23/2017Enrolled
02/23/2017Bill text as passed House and Senate (HB2291ER)
02/23/2017Impact statement from SCC (HB2291ER)
02/23/2017Signed by Speaker
02/24/2017Signed by President
02/28/2017Enrolled Bill communicated to Governor on 2/28/17
02/28/2017G Governor's Action Deadline Midnight, March 27, 2017
03/16/2017G Approved by Governor-Chapter 564 (effective 7/1/17)
03/16/2017G Acts of Assembly Chapter text (CHAP0564)

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 4 minutes.

Transcript

This is a transcript of the video clips in which this bill is discussed.

BACK, AND YOU TAKE AWAY SOME OF THE EXCEPTIONS. RIGHT? THIS IS THE EXAMPLE. IT IS HARD TO UNDERSTAND -- WHEN I SAY, YOU KNOW, IT SEEMS THAT YOU ALL WANT GUNS EVERYWHERE, INCLUDING EMERGENCY SHELTERS, WHERE WOMEN AND CHILDREN ARE HUDDLED, WHERE THEY ARE TRYING TO GRAB WHATEVER BELONGINGS, THEY HAVE, THEY ARE UNDER STRESS, THEY DON'T KNOW HOW THEIR PROPERTY IS DOING, WHAT IS GOING AROUND THEM. AND YOU WANT TO INTRODUCE FIREARMS TO THAT SITUATION. WE HAD A BILL THAT WENT TO THIS EXACT ISSUE TEN YEARS AGO, BUT SAID DON'T WORRY, THERE IS AN EXCEPTION. NOW WE ARE COMING BACK TO STRIP OUT THE EXCEPTION. THIS IS A CLASSIC EXAMPLE OF
BILL. THANK SENATOR. THE SENATOR FROM FAIRFAX CITY. I LIKE TO SPEAK TWICE BRIEFLY. FIRST OF ALL, I WANT TO THANK MY COLLEAGUE FROM VIRGINIA BEACH, HE KNOWS HIS STUFF. ENGINEERING-WISE, HE IS EXACTLY RIGHT. WE NEED TO HAVE THESE ASSETS TO HAVE SIGNIFICANT GENERATION IN OUR STATE. WE HAVE ONE ARM TIED BEHIND OUR BACK. WE CANNOT GET A COST EFFICIENT PRICE TO OUR CONSTITUENTS. THAT'S THE ISSUE. IT'S NOT WHETHER OR NOT NUCLEAR IS GOOD OR BAD, IT'S NOT WHETHER OR NOT WE HAVE SUFFICIENT GENERATION. QUITE FRANKLY, A COMBINED CYCLE PLANT IS CHEAPER TO CONSTRUCT THAN A NUCLEAR PLANT. WE NEED THE S.C.C. TO DETERMINE THIS ISSUE. SO AGAIN, I RENEW MY OPPOSITION TO THIS BILL UNTIL THE UTILITIES COME TO THE TABLE AND BRING BACK RATE REVIEW.

Del. Bill Howell (R-Fredericksburg): THANK YOU SENATOR. THE QUESTION IS SHALL HOUSE BILL ALL IN FAVOR OF THE MOTION 1922 PASS. RECORD THEIR VOTES AYE. ARE THE SENATORS READY TO VOTE? ANY SENATORS DESIRE TO CHANGE THEIR VOTE? THE CLERK WILL CLOSE THE ROLL.

[Unknown]: AYE 37, NO 3. THE BILL PASSES. REGULAR CALENDAR HAS BILLS ON THIRD READING, BILL 1934, THE STATUS OF OUR FRANCHISE, FRAN CHEESE -- FRANCHISEE. THE SENIOR SENATOR, SENATOR WAGNER. I MOVE ADOPTION OF THE COMMITTEE SUBSTITUTE. SHALL THE COMMITTEE SUBSTITUTE BE AGREED TO? ALL IN FAVOR OF THE MOTION SAY AYE. AYE. THE SUBSTITUTE IS AGREED TO. THANK YOU MR. PRESIDENT, WHAT 1394 DOES IS MAKE IT CLEAR THAT THE EMPLOYEES OF A FRANCHISEE WILL NOT BE CONSIDERED THE EMPLOYEES OF THE FRANCHISER. THAT MEANS THE PARENT COMPANY THAT'S THE FRANCHISER, THE EMPLOYEES THAT WORK FOR THE THANK YOU. THE SENIOR SENATOR YIELD FOR A QUICK QUESTION. WILL THE SENIOR SENATOR YIELD? I YIELD. MY RECOLLECTION IS THAT WE PASSED A SIMILAR BILL LAST YEAR AND IT WAS VETOED BY THE GOVERNOR. I HAVEN'T HAD A CHANCE TO COMPARE THIS. IS THIS DIFFERENT THAN THE BILL FRANCHISEE. THAT THE GOVERNOR VETOED LAST YEAR. NO IT'S NOT. I THANK THE GENTLEMAN. SENATOR FROM FAIRFAX. MR. PRESIDENT, MEMBERS OF THE SENATE, THIS BILL IS PROBABLY MUCH NEEDED AS A BILL THAT WOULD SAY IN ORDER FOR ELEPHANTS TO FLY, THEY WOULD NEED TO GET A