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2015 SESSION

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HB 2237 Electric utility ratemaking; recovery of costs of solar energy facilities.

Introduced by: David E. Yancey | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Electric utilities; costs of solar energy facilities. Authorizes an investor-owned electric utility that purchases a generation facility consisting of at least one megawatt of generating capacity using energy derived from sunlight and located in the Commonwealth and that utilizes goods or services sourced, in whole or in part, from one or more Virginia businesses, to recover the costs of acquiring the facility, with an enhanced rate of return on equity, through a rate adjustment clause. A utility filing a petition for approval of such a project may propose a rate adjustment clause based on a market index in lieu of a cost of service model for such facility. The measure also states that (i) the construction or purchase by a utility of one or more generation facilities with at least one megawatt of generating capacity, and with an aggregate rated capacity that does not exceed 500 megawatts, that use energy derived from sunlight and are located in the Commonwealth, regardless of whether any of such facilities are located within or without the utility's service territory, and (ii) planning and development activities for a new utility-owned and utility-operated generating facility or facilities utilizing energy derived from sunlight with an aggregate capacity of 500 megawatts, are in the public interest.


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