Electric utilities; fuel cost recovery. (HB1718)

Introduced By

Del. Lee Ware (R-Powhatan) with support from co-patrons Del. Jeff Bourne (D-Richmond), and Del. Steve Landes (R-Weyers Cave)

Progress

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

Description

Electric utilities; fuel cost recovery. Requires an electric utility, as a condition of approval of any request by an electric utility for recovery through its fuel factor of costs incurred under a natural gas capacity contract not previously subject to review in a fuel factor case, to prove by a preponderance of the evidence that, at the time the contract giving rise to the costs for which recovery is sought was executed, the utility had (i) identified and determined the date and amount of new fueling resource it needed; (ii) objectively studied all available alternative fueling resource options, including options other than new capacity contract or contracts to meet the identified and determined need; and (iii) concluded on the basis of such identifications, determinations, and studies that the pipeline capacity contract or contracts were the lowest-cost available option, taking into consideration fixed and variable costs and a reasonable projection of utilization. Amends § 56-249.6, of the Code of Virginia. Read the Bill »

Status

01/10/2019: Awaiting a Vote in the Commerce and Labor Committee

History

DateAction
12/17/2018Prefiled and ordered printed; offered 01/09/19 19102941D
12/17/2018Committee
12/17/2018Referred to Committee on Commerce and Labor
01/10/2019Assigned C & L sub: Subcommittee #3
01/11/2019Impact statement from SCC (HB1718)

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