SB 761

  • Virginia Senate Bill
  • 2022 Regular Session
  • Introduced in Senate Jan 21, 2022
  • Senate
  • House
  • Governor

Electric utilities; recovery of costs, rate adjustment clause proceedings, etc.

Abstract

Electric utilities; recovery of costs; rateadjustment clause proceedings; construction or acquisition of certainfacilities. Provides that in any proceeding regarding petitionsfor a rate adjustment clause, the State Corporation Commission may,as an alternative to a rate adjustment clause, authorize recoveryof any proposed cost through the utility's rates for generation anddistribution services, if the Commission, in its discretion, determinesthat such cost recovery better serves ratepayers while still providingthe utility the opportunity to recover its costs and earn a fairrate of return. Additionally, the bill prohibits the Commission fromapproving the recovery of costs related to the construction or acquisitionof generation facilities powered by sunlight or onshore or offshorewind, or energy storage facilities, that are constructed or acquiredby a Phase I or Phase II Utility after July 1, 2022, unless the Commissiondetermines that the construction or acquisition of such facilitiesis (i) necessary to maintain the reliability or security of electricservice to customers or meet the renewable energy portfolio standard (RPS) program requirements established in this section and (ii) isthe lowest-cost option to maintain the reliability or security ofelectric service to customers or meet the RPS program requirements.

Bill Sponsors (1)

Votes


Actions


Feb 07, 2022

Senate

Passed by indefinitely in Commerce and Labor (14-Y 1-N)

Jan 28, 2022

Senate

Assigned C&L sub: Energy

Jan 27, 2022

Senate

Impact statement from SCC (SB761)

Jan 21, 2022

Senate

Presented and ordered printed 22104566D

Senate

Referred to Committee on Commerce and Labor

Bill Text

Bill Text Versions Format
Presented and ordered printed 22104566D PDF HTML

Related Documents

Document Format
Fiscal Impact Statement: SB761F171.PDF PDF

Sources

Data on Open States is updated periodically throughout the day from the official website of the Virginia General Assembly.

If you notice any inconsistencies with these official sources, feel free to file an issue.