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2023 SESSION
SB 1321 Virginia Electric Utility Regulation Act; regulation of rates, proceeding to review base rates.
Introduced by: Jennifer McClellan-Resigned | R. Creigh Deeds | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Virginia Electric Utility Regulation Act; regulation of rates. Provides, that in any proceeding to establish base rates for Appalachian Electric Power or Dominion Energy Virginia conducted by the State Corporation Commission (the Commission), if the Commission determines in its sole discretion that the utility's existing base rates will, on a going-forward basis, either produce (i) revenues in excess of the utility's authorized rate of return or (ii) revenues below the utility's authorized rate of return, then the Commission is required to order any reductions or increases, as applicable and necessary, to such base rates that it deems appropriate to ensure the resulting base rates (a) are just and reasonable and (b) provide the utility an opportunity to recover its costs of providing services over the rate period and earn a fair rate of return. This bill is identical to HB 1604.
FULL TEXT
- 01/10/23 Senate: Prefiled and ordered printed; offered 01/11/23 23101676D pdf | impact statement
- 01/30/23 Senate: Committee substitute printed 23105834D-S1 pdf
- 02/02/23 Senate: Printed as engrossed 23105834D-ES1 pdf | impact statement
- 02/24/23 Senate: Bill text as passed Senate and House (SB1321ER) pdf | impact statement
- 03/24/23 Governor: Acts of Assembly Chapter text (CHAP0498) pdf
AMENDMENTS
HISTORY
- 01/10/23 Senate: Prefiled and ordered printed; offered 01/11/23 23101676D
- 01/10/23 Senate: Referred to Committee on Commerce and Labor
- 01/16/23 Senate: Assigned C&L sub: Energy
- 01/30/23 Senate: Reported from Commerce and Labor with substitute (15-Y 0-N)
- 01/30/23 Senate: Committee substitute printed 23105834D-S1
- 02/01/23 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/02/23 Senate: Read second time
- 02/02/23 Senate: Reading of substitute waived
- 02/02/23 Senate: Committee substitute agreed to 23105834D-S1
- 02/02/23 Senate: Reading of amendment waived
- 02/02/23 Senate: Amendment by Senator McClellan agreed to
- 02/02/23 Senate: Engrossed by Senate - committee substitute with amendment SB1321ES1
- 02/02/23 Senate: Printed as engrossed 23105834D-ES1
- 02/02/23 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/02/23 Senate: Passed Senate (40-Y 0-N)
- 02/09/23 House: Placed on Calendar
- 02/09/23 House: Read first time
- 02/09/23 House: Referred to Committee on Commerce and Energy
- 02/16/23 House: Reported from Commerce and Energy (22-Y 0-N)
- 02/20/23 House: Read second time
- 02/21/23 House: Read third time
- 02/21/23 House: Passed House BLOCK VOTE (99-Y 0-N)
- 02/21/23 House: VOTE: Block Vote Passage (99-Y 0-N)
- 02/24/23 Senate: Enrolled
- 02/24/23 Senate: Bill text as passed Senate and House (SB1321ER)
- 02/24/23 Senate: Signed by President
- 02/24/23 House: Signed by Speaker
- 03/02/23 Senate: Enrolled Bill Communicated to Governor on March 2, 2023
- 03/02/23 Governor: Governor's Action Deadline 11:59 p.m., March 27, 2023
- 03/24/23 Governor: Approved by Governor-Chapter 498 (effective 7/1/23)
- 03/24/23 Governor: Acts of Assembly Chapter text (CHAP0498)