HB420

Virginia HB420 allows the State Corporation Commission to reopen rate cases for public utilities if certain acquisitions or dispositions of control.

Virginia HB420 provides the State Corporation Commission with the authority to reopen rate cases for public utilities when applications for the acquisition or disposition of control are filed. This bill mandates that the reopened rate proceeding focuses on whether the proposed transaction affects the utility's cost of service or capital structure. The Commission can consolidate the reopened rate proceeding with the acquisition application or conduct them separately. The bill also stipulates that the Commission must issue a final order within nine months, unless extended for good cause.