Electric utilities; rate reductions. (HB1835)

Introduced By

Del. Suhas Subramanyam (D-Sterling) with support from co-patron Del. Alfonso Lopez (D-Arlington)

Description

Electric utilities; rate reductions. Eliminates provisions that limit any rate reduction ordered by the State Corporation Commission in the first triennial review of Dominion Energy Virginia after January 1, 2021, to $50 million in annual revenues and provides that in any triennial review, regardless of whether the Commission has ordered bill credits, the utility earned above its authorized rate of return during the test period under review, or the utility has made a request regarding any customer credit reinvestment offsets, the Commission may order any rate reduction it deems necessary and appropriate unless it finds that the resulting rates will not provide the utility with the opportunity to (i) fully recover its costs of providing its services and (ii) earn not less than a fair combined rate of return on its generation and distribution services. Read the Bill »

Status

01/14/2021: Awaiting a Vote in the Labor and Commerce Committee

History

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