Electric utilities; triennial review proceeding by SCC, fair rates of return. (HB1984)

Introduced By

Del. Sally Hudson (D-Charlottesville) with support from 19 copatrons, whose average partisan position is:

Those copatrons are Del. Dawn Adams (D-Richmond), Del. Jeff Bourne (D-Richmond), Del. Betsy Carr (D-Richmond), Del. Lee Carter (D-Manassas), Del. Carrie Coyner (R-Chesterfield), Del. Elizabeth Guzman (D-Dale City), Del. Dan Helmer (D-Fairfax Station), Del. Patrick Hope (D-Arlington), Del. Jay Jones (D-Norfolk), Del. Mark Keam (D-Vienna), Del. Kaye Kory (D-Falls Church), Del. Mark Levine (D-Alexandria), Del. Sam Rasoul (D-Roanoke), Del. David Reid (D-Loudoun), Del. Ibraheem Samirah (D-Herndon), Del. Marcus Simon (D-Falls Church), Del. Shelly Simonds (D-Newport News), Del. Suhas Subramanyam (D-Sterling), Del. Lee Ware (R-Powhatan)

Progress

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

Description

Electric utilities; triennial review; rates of return. Provides that the State Corporation Commission, in any triennial review proceeding, including the first triennial review proceeding conducted after January 1, 2021, for Dominion Energy Virginia, may use any methodology it finds consistent with the public interest to determine fair rates of return on common equity for the utility's generation and distribution services. In any such triennial review, regardless of whether the utility earned above or below its authorized rate of return during the test period under review, the Commission also may order any increases or decreases to the utility's rates for generation and distribution that it deems necessary and appropriate, as long as the resulting rates provide the utility with the opportunity to (i) fully recover its costs of providing its services and (ii) earn an authorized rate of return. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2021Prefiled and ordered printed; offered 01/13/21 21101313D
01/11/2021Referred to Committee on Labor and Commerce
01/14/2021Assigned L & C sub: Subcommittee #3
01/18/2021Impact statement from SCC (HB1984)
02/01/2021Subcommittee recommends reporting (6-Y 4-N)
02/02/2021Reported from Labor and Commerce (13-Y 8-N) (see vote tally)
02/03/2021Read first time
02/04/2021Read second time and engrossed
02/05/2021Read third time and passed House (64-Y 35-N)
02/05/2021VOTE: Passage (64-Y 35-N) (see vote tally)
02/05/2021Constitutional reading dispensed
02/05/2021Referred to Committee on Commerce and Labor
02/05/2021Continued to 2021 Sp. Sess. 1 in Commerce and Labor (15-Y 0-N) (see vote tally)
02/10/2021Assigned C&L sub: Energy
02/15/2021Passed by indefinitely in Commerce and Labor (11-Y 4-N) (see vote tally)

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