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)

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

History