VA HB2514 | 2011 | Regular Session

Status

Spectrum: Partisan Bill (Republican 6-0)
Status: Introduced on January 21 2011 - 25% progression, died in committee
Action: 2011-02-08 - House: Left in Commerce and Labor
Pending: House Commerce and Labor Committee
Text: Latest bill text (Introduced) [HTML]

Summary

Electric utility regulation. Excludes any investor-owned electric utility that was as of July 1, 1999, not bound by a rate case settlement adopted by the State Corporation Commission (SCC) that extended in its application beyond January 1, 2002, from provisions of the Virginia Electric Utility Regulation Act that establish floors on a utility's rate of return based on returns reported by peer group utilities in other Southeastern states. Petitions by such investor-owned electric utilities for rate adjustment clauses are required to be consolidated into a single annual proceeding. Changes in the rates of such a utility resulting from biennial reviews and annual rate adjustment clause proceedings will be effective no later than May 1 each year. In rate adjustment clause proceedings involving such utilities, the SCC is required to ensure that rate riders do not provide revenues that allow the utility to earn in excess of the authorized rate of return. The SCC will also be allowed to adjust rate riders in the future based on earnings.

Tracking Information

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Title

Electric utility regulation; excludes certain investor-owned electric utility.

Sponsors


History

DateChamberAction
2011-02-08 House: Left in Commerce and Labor
2011-01-26 House: Assigned C & L sub: #3 Special Subcommittee on Energy
2011-01-25 House: Subcommittee recommends passing by indefinitely by voice vote
2011-01-21 House: Referred to Committee on Commerce and Labor
2011-01-21 House: Presented and ordered printed 11104136D

Subjects


Virginia State Sources


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