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2018 SESSION

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HB 1563 Electric utility regulation; rate review proceedings, Transitional Rate Period, etc.

Introduced by: Kathy J. Byron | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Electric utilities. Advances the date rate reviews are scheduled to resume for Dominion Energy Virginia (DEV) from 2022 to 2021. The review will use the three 12-month test periods beginning January 1, 2018, and ending December 31, 2020. The measure provides that for purposes of the Utility Facility Act a company that owns or operates facilities for the storage of electric energy for sale, including pumped hydroelectric generation and storage facilities in the coalfield region of Virginia, is a public utility. The measure excludes from the definition of "public utility," for purposes of the Utility Facility Act, a company that provides storage of electric energy that is not for sale to the public, if the company is not organized as a public utility. The measure also includes enactment clauses that (i) direct the State Corporation Commission to conduct pilot programs for the deployment of electric power storage batteries; (ii) bar Appalachian Power (AEP) from recovering $10 million of incurred fuel costs; (iii) direct DEV to provide current customers a one-time bill credit of $133 million; (iv) require DEV to roll into its base rates certain costs associated with the conversion of certain generation facilities to utilize biomass as fuel; (v) require reductions in the rates for all incumbent electric utilities to reflect reductions in federal tax liability resulting from the enactment of federal tax legislation; and (vi) require DEV and AEP to continue funding for pilot programs for energy assistance and weatherization for low-income, elderly, and disabled individuals.


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