VirginiaHB12562026 Regular SessionHouseWALLET

Electric utilities, certain; purchased power cost risk mitigation practices.

Sponsored By: Jen Kiggans - to resign 12/31 (Republican)

Became Law

Summary

State Corporation Commission; electric utilities; fuel and purchased power cost risk mitigation practices. Directs the State Corporation Commission, in certain cost recovery proceedings and other annual filings as determined by the Commission, to examine the efficacy and sufficiency of fuel and purchased power cost risk mitigation practices by Dominion Energy and Appalachian Power. Under the bill, the Commission is required to include legislative recommendations related to effectively regulating fuel and purchased power cost risk in an existing report. This bill is identical to SB 505.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

State review of power price risks

Beginning July 1, 2026, the Virginia State Corporation Commission reviews how Phase I and Phase II electric utilities manage fuel and purchased power cost risks in their annual filings. It considers national best practices, like hedging and fuel cost‑sharing, and a consultant's report in Case No. PUR 2024-00152. It also measures how much utility‑owned or contracted renewable power lowers fuel and purchased power costs. The Commission reviews whether it has enough authority to oversee procurement and set new risk‑mitigation strategies. It includes any needed legislative recommendations in its annual report under § 56-596, and continues these reviews in later years as it decides.

Sponsors & Cosponsors

Sponsor

  • Jen Kiggans - to resign 12/31

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 296 • No: 0

Senate vote 3/11/2026

Passed Senate Block Vote

Yes: 39 • No: 0

Senate vote 3/11/2026

Passed Senate Block Vote

Yes: 40 • No: 0

Senate vote 3/11/2026

Reconsideration of Senate passage agreed to by Senate Block Vote

Yes: 40 • No: 0

Senate vote 3/10/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 37 • No: 0

Senate vote 3/10/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 3/9/2026

Reported from Commerce and Labor

Yes: 15 • No: 0

House vote 2/17/2026

Read third time and passed House Block Vote

Yes: 97 • No: 0

House vote 2/12/2026

Reported from Labor and Commerce with substitute

Yes: 20 • No: 0

House vote 2/10/2026

Subcommittee recommends reporting with substitute

Yes: 8 • No: 0

Actions Timeline

  1. Fiscal Impact Statement from State Corporation Commission (HB1256)

    4/6/2026House
  2. Acts of Assembly Chapter text (CHAP0280)

    4/6/2026Governor
  3. Approved by Governor-Chapter 280 (effective 7/1/2026)

    4/6/2026Governor
  4. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/31/2026Governor
  5. Enrolled Bill communicated to Governor on March 31, 2026

    3/31/2026House
  6. Signed by Speaker

    3/31/2026House
  7. Bill text as passed House and Senate (HB1256ER)

    3/30/2026House
  8. Enrolled

    3/30/2026House
  9. Signed by President

    3/30/2026Senate
  10. Passed Senate Block Vote (40-Y 0-N 0-A)

    3/11/2026Senate
  11. Reconsideration of Senate passage agreed to by Senate Block Vote (40-Y 0-N 0-A)

    3/11/2026Senate
  12. Passed Senate Block Vote (39-Y 0-N 0-A)

    3/11/2026Senate
  13. Read third time

    3/11/2026Senate
  14. Passed by for the day Block Vote (Voice Vote)

    3/10/2026Senate
  15. Constitutional reading dispensed Block Vote (on 2nd reading) (37-Y 0-N 0-A)

    3/10/2026Senate
  16. Rules suspended

    3/10/2026Senate
  17. Reported from Commerce and Labor (15-Y 0-N)

    3/9/2026Senate
  18. Fiscal Impact Statement from State Corporation Commission (HB1256)

    2/19/2026House
  19. Referred to Committee on Commerce and Labor

    2/18/2026Senate
  20. Constitutional reading dispensed (on 1st reading)

    2/18/2026Senate
  21. Read third time and passed House Block Vote (97-Y 0-N 0-A)

    2/17/2026House
  22. Engrossed by House - committee substitute

    2/16/2026House
  23. committee substitute agreed to

    2/16/2026House
  24. Read second time

    2/16/2026House
  25. Read first time

    2/15/2026House

Bill Text

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