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2021 SESSION
HB 1835 Electric utilities; rate reductions.
Introduced by: Suhas Subramanyam | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Electric utilities; rate reductions. Eliminates provisions that limit any rate reduction ordered by the State Corporation Commission in the first triennial review of Dominion Energy Virginia after January 1, 2021, to $50 million in annual revenues and provides that in any triennial review, regardless of whether the Commission has ordered bill credits, the utility earned above its authorized rate of return during the test period under review, or the utility has made a request regarding any customer credit reinvestment offsets, the Commission may order any rate reduction it deems necessary and appropriate unless it finds that the resulting rates will not provide the utility with the opportunity to (i) fully recover its costs of providing its services and (ii) earn not less than a fair combined rate of return on its generation and distribution services. This bill was incorporated into HB 1914.
FULL TEXT
HISTORY
- 01/06/21 House: Prefiled and ordered printed; offered 01/13/21 21101289D
- 01/06/21 House: Referred to Committee on Labor and Commerce
- 01/14/21 House: Assigned L & C sub: Subcommittee #3
- 02/01/21 House: Subcommittee recommends incorporating (HB1914-Helmer) by voice vote
- 02/02/21 House: Incorporated by Labor and Commerce (HB1914-Helmer) by voice vote