VA HB1059 | 2014 | Regular Session

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Engrossed on February 10 2014 - 50% progression, died in committee
Action: 2014-03-03 - Continued to 2015 in Commerce and Labor (13-Y 0-N)
Pending: Senate Commerce and Labor Committee
Text: Latest bill text (Comm Sub) [HTML]

Summary

Electric utilities; generation facility cost recovery. Requires an electric utility to establish a regulatory asset for regulatory accounting and ratemaking purposes under which it shall defer operation and maintenance costs incurred in connection with the refueling of any nuclear-powered generating plant and certain related work. These deferred O&M costs shall be amortized over the refueling cycle, but in no case for more than 18 months. The State Corporation Commission (SCC) is required to treat the deferred and amortized costs of such regulatory asset as part of the utility's costs for the purpose of certain proceedings. The measure also limits the portion of the costs incurred by an electric utility between July 1, 2007, and December 31, 2013, in developing a nuclear power facility or offshore wind facility that are recoverable through a rate adjustment clause to 30 percent of such amount. The remaining 70 percent of such costs may be recovered through existing base rates as determined by the SCC in the test periods under review in the utility's next biennial review filed after July 1, 2014. All of the costs incurred after December 31, 2013, may be deferred for recovery through a rate adjustment clause as may be approved by the SCC. The measure also states that the planning and development activities for new nuclear generation facilities and generation facilities utilizing energy derived from offshore wind are in the public interest. Finally, the measure also rewords a provision that currently states that nothing precludes the Commission from determining the reasonableness or prudence of any cost incurred or projected to be incurred by a utility.

Tracking Information

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Title

Electric utility regulation; recovery of certain generation facility costs, etc.

Sponsors


Roll Calls

2014-03-03 - Senate - Senate: Continued to 2015 in Commerce and Labor (13-Y 0-N) (Y: 13 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-11 - House - House: VOTE: PASSAGE #2 (76-Y 20-N 3-A) (Y: 78 N: 20 NV: 0 Abs: 3) [PASS]
2014-02-11 - House - House: VOTE: PASSAGE (73-Y 23-N 2-A) (Y: 75 N: 23 NV: 1 Abs: 2) [PASS]
2014-02-04 - House - House: Reported from Commerce and Labor with substitute (18-Y 2-N) (Y: 19 N: 2 NV: 0 Abs: 1) [PASS]
2014-01-30 - House - House: Subcommittee recommends reporting with amendment(s) (10-Y 2-N) (Y: 10 N: 2 NV: 1 Abs: 0) [PASS]

History

DateChamberAction
2014-03-03SenateContinued to 2015 in Commerce and Labor (13-Y 0-N)
2014-02-12SenateReferred to Committee on Commerce and Labor
2014-02-12SenateConstitutional reading dispensed
2014-02-11HouseVOTE: PASSAGE #2 (76-Y 20-N 3-A)
2014-02-11HousePassed House (76-Y 20-N 3-A)
2014-02-11HouseReconsideration of passage agreed to by House
2014-02-11HouseVOTE: PASSAGE (73-Y 23-N 2-A)
2014-02-11HouseRead third time and passed House (73-Y 23-N 2-A)
2014-02-10HouseEngrossed by House - committee substitute HB1059H1
2014-02-10HouseAmendments # 5 and 10 by Delegate Ware rejected
2014-02-10HouseAmendments # 1-4 and 6-9 by Delegate Ware rejected
2014-02-10HouseCommittee substitute agreed to 14104219D-H1
2014-02-10HouseRead second time
2014-02-07HousePassed by for the day
2014-02-06HouseRead first time
2014-02-04HouseCommittee substitute printed 14104219D-H1
2014-02-04HouseReported from Commerce and Labor with substitute (18-Y 2-N)
2014-01-30HouseSubcommittee recommends reporting with amendment(s) (10-Y 2-N)
2014-01-15HouseAssigned C & L sub: Special Subcommittee on Energy
2014-01-08HouseReferred to Committee on Commerce and Labor
2014-01-08HousePresented and ordered printed 14103508D

Subjects


Virginia State Sources


Bill Comments

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