Posts Tagged ‘Utility Reform’

Wilt Pro-Ratepayer Legislation Passes House Committee Unanimously

February 2, 2023

RICHMOND- On Thursday legislation patroned by Delegate Tony Wilt (R-Rockingham) to restore State Corporation Commission (SCC) authority and protect ratepayers passed the House Commerce and Energy Committee Unanimously.

“Today was a great day for Virginia consumers,” said Wilt. “Through a package of legislation that restores SCC authority, including our own, we are providing much needed relief for Virginia ratepayers at a time when energy bills and other costs are increasing significantly. While we still have a way to go in the process, I am encouraged by the bold action taken by the House thus far.”

HB 2267 grants authority to the Commission to determine the best mechanism for utilities to recover costs of generation projects, grid improvements, and other expenses. Currently for Dominion customers, 100% of the growth in energy bills in recent years has been through Rate Adjustment Clauses (RACs). There are several reasons RACs are advantageous for the utility because of other provisions in Virginia law. However, often this ends up costing ratepayers more than if these same costs had been recovered through base rates.

This follows committee passage on Tuesday of another bill patroned by Delegate Wilt that makes it clear the SCC has full authority to safeguard grid reliability and security by extending renewable portfolio requirements under the Clean Economy Act if they feel reliability is threatened due to the mandated generation plant retirements in the Act.

These bills will be heading to the House floor for a vote in the coming days before consideration by the Senate.