SB505
Recovery of fuel and purchased power costs; cost-sharing adjustment mechanism, report.
Status:
In Senate
Latest Action:
Jan. 13, 2026
Senate: Referred to Committee on Commerce and Labor
Chief Patron:
Creigh Deeds (D)
Session:
2026 Regular Session
Summary
As Introduced. Recovery of fuel and purchased power costs; cost-sharing adjustment mechanism; report.
Requires the State Corporation Commission (the Commission) to establish by regulation a cost-sharing adjustment mechanism for the recovery of a percentage of fuel costs, including the costs of purchased power, under which Appalachian Power Company and Dominion Energy Virginia share the risk of variability of such costs with their customers. ... (More) Under current law, all such costs are passed through to the customer. The bill directs the Commission to conduct a proceeding to establish such cost-sharing adjustment mechanism and to consider opportunities to mitigate the impact on customer rates that are associated with fluctuations in the market or other unpredictable events that affect customer rates and various elements of a cost-sharing adjustment mechanism that is designed to align the financial incentives of an electric utility with the interests of the customers of the electric utility. The bill also includes elements to include in designing such cost-sharing adjustment mechanism and directs the Commission to complete such proceeding and submit a report to the General Assembly and the Commission on Electric Utility Regulation by September 1, 2027. (Less)-
Bill History
- 01/13/2026 - Senate: Prefiled and ordered printed; Offered 01-14-2026 26104695D
- 01/13/2026 - Senate: Referred to Committee on Commerce and Labor
