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2007 SESSION
(SB1416)AMENDMENT(S) PROPOSED BY THE SENATE
SEN. WATKINS
1. Line 727, substitute, after termination of capped rates.
insert
Any incumbent electric utility that previously transferred all of its generating assets to an affiliate shall, by January 1, 2009 purchase generating assets or notify the Commission of its intent in good faith to pursue the construction of generating assets to serve the base load portion of its retail native load in Virginia. Thereafter, rates, terms and conditions for the provision of generation, distribution and transmission services, including fuel and purchased power, for each incumbent electric utility that has previously transferred all of its generation assets to an affiliate shall be determined in the same manner as other electric utilities under this chapter.