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2010 SESSION

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SB 112 Steps to Advance Virginia's Energy Plan (SAVE) Act; created.

Introduced by: J. Chapman Petersen | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Natural gas utilities; cost recovery for certain infrastructure improvement costs.  Authorizes investor-owned natural gas utilities to petition the State Corporation Commission to implement a separate rider that will allow for recovery of certain costs associated with eligible infrastructure replacement projects. Eligible infrastructure replacement projects are projects that: (i) enhance safety or reliability by reducing system integrity risks associated with customer outages, corrosion, equipment failures, material failures, natural forces, or other outside force damage; (ii) do not increase revenues by directly connecting the infrastructure replacement to new customers; (iii) reduce greenhouse gas emissions; (iv) are not included in the natural gas utility's rate base in its most recent rate case; and (v) are commenced on or after January 1, 2010. The costs recoverable from an eligible infrastructure replacement project include a return on the investment, a revenue conversion factor, depreciation, property taxes, and carrying costs on the over- or under- recovery of the eligible infrastructure replacement costs. A SAVE plan shall be allocated and charged so as to avoid undue cross-subsidization between rate classes. HB 533 is identical.


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