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2001 SESSION
HB 1940 Utility Consumer Services Cooperatives; self-regulation.
Introduced by: Terry G. Kilgore | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Utility Consumer Services Cooperatives; self-regulation. Authorizes Virginia’s consumer-owned, not-for-profit electric distribution cooperatives to elect self-regulation with respect to various aspects of financing transactions, terms and conditions, service and rates relating to the provision of electric service. Currently, the State Corporation Commission regulates these activities. Such self-regulation may occur only following notice to the members and a subsequent affirmative vote of a supermajority of the members. Any cooperative whose members affirmatively choose to self-regulate may revert back to Commission regulation through a similar referendum process. Any cooperative whose membership chooses to impose self-regulation will still have an obligation to serve the public within its certificated service territory. Additionally, the capped rates for electric service and the default service provisions of the Virginia Electric Utility Restructuring Act will continue to apply to all electric cooperatives regardless of self-regulation status.
FULL TEXT
HISTORY
- 01/10/01 House: Presented & ordered printed, prefiled 01/09/01 010572816
- 01/10/01 House: Referred to Committee on Corporations, Insurance and Banking
- 01/23/01 House: Passed by in C. I. B. with letter (25-Y 0-N)