Bill Text: VA HB856 | 2024 | Regular Session | Prefiled
Bill Title: Public utilities; rate increases during certain months prohibited.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2024-02-13 - Left in Labor and Commerce [HB856 Detail]
Download: Virginia-2024-HB856-Prefiled.html
Be it enacted by the General Assembly of Virginia:
1. That §56-235.4 of the Code of Virginia is amended and reenacted as follows:
§56-235.4. Prohibition of multiple rate increases within any twelve-month period and rate increases in certain months; exception.
A. The regulated operating revenues of a public utility shall
not (i) be increased pursuant to
Chapter 9.1 (§56-231.15 et seq.), 10 (§56-232 et seq.),
or 19 (§56-531 et seq.) of
this title more than once within any
twelve-month 12-month
period or (ii) be increased pursuant to Chapter 9.1 (§
56-231.15 et seq.), 10 (§56-232 et seq.),
or 23 (§56-576
et seq.) in the months of November,
December, January, or February. This limitation shall not
apply to increases in regulated operating revenues resulting from (i) (a)
increases in rates pursuant to §56-245 or §56-249.6, (ii) (b) any automatic rate
adjustment clause approved by the Commission, (iii) (c) new rate schedules for
service not offered under existing rate schedules or for expansion, reduction,
or termination of existing services, (iv) (d) initiation, modification
or termination of experimental rates under §56-234, or (v) (e) the making permanent of an
experimental program. Notwithstanding any other provisions of this section, a
telephone company may apply to the Commission to pass on to its customers as a
part of its rates any changes approved by the Commission in the carrier access
charges.
B. The Commission may adopt such rules and regulations as may be necessary to carry out the provisions of this section. The Commission may specify, by rule, the time during the calendar year when application may be filed by electric utility and cooperatives, gas utilities, telephone utilities and cooperatives, and other utilities.
The Commission may by rule provide standards and procedures for expedited handling of rate increase applications, and such rules may provide that an expedited rate increase may take effect in less than twelve months after the preceding increase so long as regulated operating revenues are not increased pursuant to the provisions of subsection A of this section more than once in any calendar year.
