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2023 SESSION

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23101028D
HOUSE BILL NO. 2267 Offered January 11, 2023 Prefiled January 11, 2023 A BILL to authorize the State Corporation Commission to authorize recovery of any proposed cost through the utility's rates for generation and distribution services as an alternative to a rate adjustment clause. ---------- Patrons-- Wilt, Hudson, Subramanyam and Seibold ---------- Referred to Committee on Commerce and Energy ----------

Be it enacted by the General Assembly of Virginia:

1. § 1. Notwithstanding any other provision of law, in any proceeding regarding petitions for a rate adjustment clause filed pursuant to subdivision A 4, 5, or 6 of § 56-585.1, the State Corporation Commission (the Commission) may, as an alternative to a rate adjustment clause, authorize recovery of any actual or proposed costs through an electric utility's rates for generation and distribution services, if the Commission, in its discretion, determines that such cost recovery better serves ratepayers better than a rate adjustment clause while still providing the electric utility the opportunity to recover its costs and earn a fair rate of return.