Electric utility regulation; excludes certain investor-owned electric utility. (HB2514)

Introduced By

Del. Don Merricks (R-Danville)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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. Read the Bill »


Bill Has Failed


01/21/2011Presented and ordered printed 11104136D
01/21/2011Referred to Committee on Commerce and Labor
01/25/2011Subcommittee recommends passing by indefinitely (12-Y 1-N)
01/25/2011Subcommittee recommends passing by indefinitely
01/26/2011Assigned C & L sub: #3 Special Subcommittee on Energy
01/26/2011Impact statement from SCC (HB2514)
02/08/2011Left in Commerce and Labor