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2009 SESSION
Be it enacted by the General Assembly of Virginia:
1. That § 56-585.3 of the Code of Virginia is amended and reenacted as follows:
§ 56-585.3. Regulation of cooperative rates after rate caps.
A. After the expiration or termination of capped rates, the rates, terms and conditions of distribution electric cooperatives subject to Article 1 (§ 56-231.15 et seq.) of Chapter 9.1 of this title shall be regulated in accordance with the provisions of Chapters 9.1 (§ 56-231.15 et seq.) and 10 (§ 56-232 et seq.) of this title, as modified by the following provisions:
1. Except for energy related cost (fuel cost), the Commission
shall not require any cooperative to adjust, modify, or revise its rates, by
means of riders or otherwise, to reflect changes in wholesale power cost which
occurred during the capped rate period, other than in a general rate proceeding.;
2. Each cooperative may, without Commission approval or the
requirement of any filing other than as provided in this subdivision, upon an
affirmative resolution of its board of directors, increase or decrease all
classes of its rates for distribution services at any time, provided, however,
that such adjustments will not effect a cumulative net increase or decrease in
excess of 5 percent in such rates in any three year period. Such adjustments
will not affect or be limited by any existing fuel or wholesale power cost
adjustment provisions. The cooperative will promptly file any such revised
rates with the Commission for informational purposes.;
3. Each cooperative may, without Commission approval, upon an
affirmative resolution of its board of directors, make any adjustment to its
terms and conditions that does not affect the cooperative's revenues from the
distribution or supply of electric energy. In addition, a cooperative may make
such adjustments to any pass-through of third-party service charges and fees,
and to any fees, charges and deposits set out in Schedule F of such
cooperative's Terms and Conditions filed as of January 1, 2007. The cooperative
will promptly file any such amended terms and conditions with the Commission
for informational purposes.;
4. Each cooperative may, without Commission approval or the requirement of any filing other than as provided in this subdivision, upon an affirmative resolution of its board of directors, make any adjustment to its rates reasonably calculated to collect any or all of the fixed costs of owning and operating its electric distribution system, including without limitation, such costs as are identified as customer-related costs in a cost of service study, through a new or modified fixed monthly charge, rather than through volumetric charges associated with the use of electric energy; however, such adjustments shall be revenue neutral based on the cooperative's determination of the proper intra-class allocation of the revenues produced by its then current rates. The cooperative may elect, but is not required, to implement such adjustments through incremental changes over the course of up to three years. The cooperative shall file promptly revised tariffs reflecting any such adjustments with the Commission for informational purposes; and
5. A cooperative may, at any time after the expiration or termination of capped rates, petition the Commission for approval of one or more rate adjustment clauses for the timely and current recovery from customers of the costs described in subdivisions A 5 b and d of § 56-585.1.
5 B. None of the adjustments described in
subdivisions A 2 through 4 A 5 will apply to the rates
paid by any customer that takes service by means of dedicated distribution
facilities and had noncoincident peak demand in excess of 90 megawatts in calendar
year 2006.
C. Nothing in this section shall be deemed to grant to a cooperative any authority to amend or adjust any terms and conditions of service or agreements regarding pole attachments or the use of the cooperative's poles or conduits.