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2023 SESSION
SB 1321 Virginia Electric Utility Regulation Act; regulation of rates.
Introduced by: Jennifer L. McClellan | R. Creigh Deeds | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Virginia Electric Utility Regulation Act; regulation of rates. Provides that if the State Corporation Commission in any triennial review proceeding for an investor-owned incumbent electric utility commencing after January 1, 2023, determines that the utility's base rates will produce unreasonable revenues in excess of the utility's rate of return, the Commission may order any reductions to such base rates that it deems appropriate to ensure the resulting base rates are just and reasonable and provide the utility an opportunity to recover its costs and earn a fair rate of return.
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
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)