Virginia Electric Utility Regulation Act; regulation of rates, proceeding to review base rates. (SB1321)
Introduced By
Sen. Jennifer McClellan (D-Richmond) with support from co-patron Sen. Creigh Deeds (D-Charlottesville)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Virginia Electric Utility Regulation Act; regulation of rates. Provides, that in any proceeding to establish base rates for Appalachian Electric Power or Dominion Energy Virginia conducted by the State Corporation Commission (the Commission), if the Commission determines in its sole discretion that the utility's existing base rates will, on a going-forward basis, either produce (i) revenues in excess of the utility's authorized rate of return or (ii) revenues below the utility's authorized rate of return, then the Commission is required to order any reductions or increases, as applicable and necessary, to such base rates that it deems appropriate to ensure the resulting base rates (a) are just and reasonable and (b) provide the utility an opportunity to recover its costs of providing services over the rate period and earn a fair rate of return. This bill is identical to HB 1604. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/10/2023 | Prefiled and ordered printed; offered 01/11/23 23101676D |
01/10/2023 | Referred to Committee on Commerce and Labor |
01/16/2023 | Assigned C&L sub: Energy |
01/24/2023 | Impact statement from SCC (SB1321) |
01/30/2023 | Senate committee, floor amendments and substitutes offered |
01/30/2023 | Reported from Commerce and Labor with substitute (15-Y 0-N) (see vote tally) |
01/30/2023 | Committee substitute printed 23105834D-S1 |
02/01/2023 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
02/02/2023 | Read second time |
02/02/2023 | Reading of substitute waived |
02/02/2023 | Committee substitute agreed to 23105834D-S1 |
02/02/2023 | Reading of amendment waived |
02/02/2023 | Amendment by Senator McClellan agreed to |
02/02/2023 | Engrossed by Senate - committee substitute with amendment SB1321ES1 |
02/02/2023 | Printed as engrossed 23105834D-ES1 |
02/02/2023 | Constitutional reading dispensed (40-Y 0-N) (see vote tally) |
02/02/2023 | Passed Senate (40-Y 0-N) (see vote tally) |
02/09/2023 | Placed on Calendar |
02/09/2023 | Read first time |
02/09/2023 | Referred to Committee on Commerce and Energy |
02/10/2023 | Impact statement from SCC (SB1321ES1) |
02/16/2023 | Reported from Commerce and Energy (22-Y 0-N) (see vote tally) |
02/20/2023 | Read second time |
02/21/2023 | Read third time |
02/21/2023 | Passed House BLOCK VOTE (99-Y 0-N) |
02/21/2023 | VOTE: Block Vote Passage (99-Y 0-N) (see vote tally) |
02/24/2023 | Enrolled |
02/24/2023 | Bill text as passed Senate and House (SB1321ER) |
02/24/2023 | Signed by President |
02/24/2023 | Signed by Speaker |
02/27/2023 | Impact statement from SCC (SB1321ER) |
03/02/2023 | Enrolled Bill Communicated to Governor on March 2, 2023 |
03/02/2023 | G Governor's Action Deadline 11:59 p.m., March 27, 2023 |
03/24/2023 | G Approved by Governor-Chapter 498 (effective 7/1/23) |
03/24/2023 | G Acts of Assembly Chapter text (CHAP0498) |