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2023 SESSION

Regular Calendar

Senate Bills on Third Reading

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S.B. 1265. A BILL to amend and reenact §§ 56-581, 56-585.1, 56-585.1:4, and 56-599 of the Code of Virginia and to amend the Code of Virginia by adding a section numbered 56-249.6:1, relating to Virginia Electric Utility Regulation Act; financing for certain deferred fuel costs; review proceedings; rates; return on common equity; rate adjustment clauses; capitalization ratio for certain projects; generation facility retirements subject to approval. 23105739D

• 02/06/23 Senate: Printed as engrossed 23105739D-ES1
• 01/30/23 Senate: Committee substitute printed 23105739D-S1
• 01/10/23 Senate: Prefiled and ordered printed; offered 01/11/23 23103900D

Patron--Saslaw

Reported from Committee on Commerce and Labor with substitute (12-Y 3-N)

YEAS--Saslaw, Norment, Newman, Obenshain, Lucas, Spruill, Edwards, Barker, Marsden, Lewis, Surovell, Mason--12.

NAYS--Deeds, Ebbin, Bell--3.

ABSTENTIONS--0.

Committee substitute adopted by Senate February 6, 2023

Floor amendment adopted by Senate February 6, 2023

AMENDMENT(S) PROPOSED BY THE SENATE

SEN. NORMENT

4. Line 497, substitute, after return

strike

authorized pursuant to the provisions governing such review proceeding

insert

on its base rates as determined in subdivision A 2 of § 56-585.1

 

SEN. NORMENT

5. Line 588, substitute, after 2023,

insert

and prior to December 31, 2027,

 

SEN. NORMENT

6. Line 704, substitute, after filing.

insert

Notwithstanding the provisions of subsection C of § 56-581, such combination shall not serve as the basis for an increase in a Phase II Utility's rates for generation and distribution services in its 2023 biennial proceeding.