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2014 SESSION
SB 643 Electric utility regulation; recovery of costs of offshore wind facilities, etc.
Introduced by: A. Donald McEachin | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Electric utilities; costs of offshore wind facilities. Limits the portion of all costs incurred by an electric utility between July 1, 2007, and December 31, 2013, in developing an offshore wind facility that are recoverable through a rate adjustment clause to 30 percent of such amount. The remaining 70 percent of all such costs related to such a facility shall be recovered ratably through existing base rates as determined by the SCC in the test periods under review in the utility's next biennial review filed after July 1, 2014. All of the costs incurred after December 31, 2013, may be deferred for recovery through a rate adjustment clause as may be approved by the SCC. The measure also states that the planning and development activities for new generation facilities utilizing energy derived from offshore wind are in the public interest.
FULL TEXT
- 01/17/14 Senate: Presented and ordered printed 14103810D pdf | impact statement
- 02/10/14 Senate: Committee substitute printed 14104958D-S1 pdf | impact statement
- 02/28/14 Senate: Bill text as passed Senate and House (SB643ER) pdf | impact statement
- 04/03/14 Governor: Acts of Assembly Chapter text (CHAP0550) pdf
AMENDMENTS
HISTORY
- 01/17/14 Senate: Presented and ordered printed 14103810D
- 01/17/14 Senate: Referred to Committee on Commerce and Labor
- 02/10/14 Senate: Reported from Commerce and Labor with substitute (16-Y 0-N)
- 02/10/14 Senate: Committee substitute printed 14104958D-S1
- 02/11/14 Senate: Read first time
- 02/11/14 Senate: Constitutional reading dispensed (37-Y 0-N)
- 02/11/14 Senate: Reading of substitute waived
- 02/11/14 Senate: Committee substitute agreed to 14104958D-S1
- 02/11/14 Senate: Engrossed by Senate - committee substitute SB643S1
- 02/11/14 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/11/14 Senate: Passed Senate (40-Y 0-N)
- 02/13/14 House: Placed on Calendar
- 02/13/14 House: Read first time
- 02/13/14 House: Referred to Committee on Commerce and Labor
- 02/18/14 House: Reported from Commerce and Labor with amendments (18-Y 2-N)
- 02/20/14 House: Read second time
- 02/21/14 House: Passed by for the day
- 02/24/14 House: Read third time
- 02/24/14 House: Committee amendments agreed to
- 02/24/14 House: Engrossed by House as amended
- 02/24/14 House: Passed House with amendments (77-Y 19-N 3-A)
- 02/24/14 House: VOTE: PASSAGE (77-Y 19-N 3-A)
- 02/26/14 Senate: House amendments agreed to by Senate (30-Y 7-N 2-A)
- 02/28/14 Senate: Enrolled
- 02/28/14 Senate: Bill text as passed Senate and House (SB643ER)
- 03/03/14 House: Signed by Speaker
- 03/03/14 Senate: Signed by President
- 04/03/14 Governor: Approved by Governor-Chapter 550 (effective 7/1/14)
- 04/03/14 Governor: Acts of Assembly Chapter text (CHAP0550)