Virginia SB466 regulates electric utilities' cost recovery, particularly for serving data center customers.
Virginia SB466 establishes guidelines for electric utilities' cost recovery, focusing on data center customers. It mandates the Virginia State Corporation Commission to review utilities' rates, ensuring they do not exceed fair combined rates of return. The bill allows utilities to recover costs through rate adjustment clauses, subject to Commission approval. It also addresses the recovery of costs related to renewable energy projects, energy efficiency programs, and infrastructure improvements.
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