Electric utilities; recovery of costs, rate adjustment clause proceedings, etc. (HB839)

Introduced By

Del. Tony Wilt (R-Harrisonburg)

Progress

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

Description

Electric utilities; recovery of costs; rate adjustment clause proceedings; construction or acquisition of certain facilities. Provides that in any proceeding regarding petitions for a rate adjustment clause, the State Corporation Commission may, as an alternative to a rate adjustment clause, authorize recovery of any proposed cost through the utility's rates for generation and distribution services, if the Commission, in its discretion, determines that such cost recovery better serves ratepayers while still providing the utility the opportunity to recover its costs and earn a fair rate of return. Additionally, the bill prohibits the Commission from approving the recovery of costs related to the construction or acquisition of generation facilities powered by sunlight or onshore or offshore wind, or energy storage facilities, that are constructed or acquired by a Phase I or Phase II Utility after July 1, 2022, unless the Commission determines that the construction or acquisition of such facilities is (i) necessary to maintain the reliability or security of electric service to customers or meet the renewable energy portfolio standard (RPS) program requirements established in this section and (ii) is the lowest-cost option to maintain the reliability or security of electric service to customers or meet the RPS program requirements. Read the Bill »

Status

01/12/2022: In Committee

History

DateAction
01/12/2022Committee
01/12/2022Prefiled and ordered printed; offered 01/12/22 22104249D
01/12/2022Referred to Committee on Commerce and Energy
01/20/2022Impact statement from SCC (HB839)
01/25/2022Continued to 2023n Commerce and Energy
01/25/2022Continued to 2023 in Commerce and Energy

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