Virginia Code 56-585.1:13: Recovery of costs associated with investment in transportation electrification
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Beginning July 1, 2021, any approved costs of any investor-owned electric utility associated with investment in transportation electrification, other than those costs approved prior to July 1, 2021, shall be recovered only through the utility’s rates for generation and distribution, shall not be recovered through a rate adjustment clause pursuant to subdivision A 6 of § 56-585.1, and shall not be eligible for a customer credit reinvestment offset pursuant to subdivision A 8 d of § 56-585.1. To the extent that the provisions of this section are inconsistent with the provisions of § 56-585.1, the provisions of this section shall control.
Terms Used In Virginia Code 56-585.1:13
- Electric utility: means any person that generates, transmits, or distributes electric energy for use by retail customers in the Commonwealth, including any investor-owned electric utility, cooperative electric utility, or electric utility owned or operated by a municipality. See Virginia Code 56-576
- Electrification: means measures that (i) electrify space heating, water heating, cooling, drying, cooking, industrial processes, and other building and industrial end uses that would otherwise be served by onsite, nonelectric fuels, provided that the electrification measures reduce site energy consumption; (ii) to the maximum extent practical, seek to combine with federally authorized customer rebates for heat pump technology; and (iii) for those measures that provide measurable and verifiable energy savings to low-income customers or elderly customers, to the maximum extent practical, seek to combine with either contemporaneously installed measures or previously installed measures that are or were provided under federally funded weatherization programs or state-provided, locality-provided, or utility-provided energy efficiency programs. See Virginia Code 56-576
- Rate: means rate charged for any service rendered or to be rendered. See Virginia Code 56-1
2021, Sp. Sess. I, c. 268.