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2018 SESSION

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SB 922 Electric utilities; rates and tariffs.

Introduced by: A. Benton "Ben" Chafin | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Electric utilities; rates and tariffs. Directs the State Corporation Commission to exclude any debt associated with an electric utility's securitized bonds that are the obligation of non-Virginia jurisdictional customers from the capital structure and cost of capital of the utility when regulating its rates, terms, and conditions of service. The measure also authorizes a utility to request an adjustment to a tariff that is revenue neutral to the utility during a biennial filing that does not result in an overall rate change.

SUMMARY AS INTRODUCED:

Electric utilities; rates and tariffs. Directs the State Corporation Commission to use the unconsolidated capital structure and cost of capital of an investor-owned electric utility when regulating the rates, terms, and conditions of service. Currently there is no requirement that the capital structure and cost of capital be unconsolidated. The measure also authorizes a utility to request an adjustment to a tariff during a biennial filing when the utility's rates do not change and requires the Commission to approve such an adjustment if it is found to be in the public interest.