VirginiaHB9032026 Regular SessionHouseWALLET

Electric utilities; performance-based regulatory framework.

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

Became Law

Summary

Electric utilities; performance-based regulation; work group; report. Directs the State Corporation Commission to independently consider whether elements of an effective performance-based regulatory framework to evaluate and potentially improve electric utility performance and cost control incentives in the Commonwealth are in the public interest and to develop related legislative recommendations. The bill requires the Commission to include its findings and recommendations in a report required by existing law by July 1, 2027. As introduced, this bill was a recommendation of the Commission on Electric Utility Regulation. This bill is identical to SB 251.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

Public comments and experts in study

The SCC allows public comments and holds technical conferences. Consumer advocates, utilities, experts, and the Consumer Counsel take part. The SCC may hire outside experts to help its review. These steps increase transparency and do not change bills now.

SCC report due July 1, 2027

By July 1, 2027, the SCC submits its findings and recommendations to the named legislative committees. It also posts the report on its website for the public. The deadline and public posting add transparency. They do not change bills now.

SCC studying utility performance incentives

The law directs the State Corporation Commission to study and recommend performance-based rules for investor-owned electric utilities. It reviews combining rate adjustment riders and moving some costs into base rates. It examines shared fuel-cost risk between utilities and customers. It considers stronger incentives to meet energy efficiency and renewable standards. It explores tying utility earnings to measurable results and using all-source competitive procurement. The SCC also lists other needed parts of a performance-based framework. This study does not change current rates or bills.

Utilities must provide data to SCC

Each electric utility must give the SCC any information it requests for these studies. This supports a full review. Complying can add administrative costs for utilities, which could matter in later cases. It does not change bills today.

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: 316 • No: 38

House vote 3/11/2026

Senate substitute with amendment agreed to by House

Yes: 84 • No: 13

Senate vote 3/10/2026

Passed Senate with substitute with amendment

Yes: 23 • No: 17

Senate vote 3/10/2026

Finance and Appropriations Amendment agreed to

Yes: 0 • No: 0

Senate vote 3/10/2026

Rules Substitute agreed to

Yes: 0 • No: 0

Senate vote 3/9/2026

Constitutional reading dispensed Block Vote (on 2nd reading)

Yes: 40 • No: 0

Senate vote 3/9/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 3/6/2026

Reported from Finance and Appropriations with amendment

Yes: 10 • No: 5

Senate vote 2/27/2026

Reported from Rules with substitute and rereferred to Finance and Appropriations

Yes: 12 • No: 3

House vote 2/17/2026

Read third time and passed House Block Vote

Yes: 97 • No: 0

House vote 2/11/2026

Reported from Appropriations

Yes: 22 • No: 0

House vote 2/11/2026

Subcommittee recommends reporting

Yes: 7 • No: 0 • Other: 1

House vote 2/6/2026

Reported from Rules and referred to Appropriations

Yes: 16 • No: 0

House vote 2/2/2026

Subcommittee recommends reporting and referring to Appropriations

Yes: 5 • No: 0 • Other: 1

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0701)

    4/13/2026Governor
  2. Approved by Governor-Chapter 701 (effective 7/1/2026)

    4/13/2026Governor
  3. Fiscal Impact Statement from State Corporation Commission (HB903)

    4/6/2026House
  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 (HB903ER)

    3/30/2026House
  8. Enrolled

    3/30/2026House
  9. Signed by President

    3/30/2026Senate
  10. Fiscal Impact Statement from State Corporation Commission (HB903)

    3/12/2026House
  11. Senate substitute with amendment agreed to by House (84-Y 13-N 0-A)

    3/11/2026House
  12. Passed Senate with substitute with amendment (23-Y 17-N 0-A)

    3/10/2026Senate
  13. Finance and Appropriations Amendment agreed to

    3/10/2026Senate
  14. Rules Substitute agreed to

    3/10/2026Senate
  15. Engrossed by Senate - committee substitute as amended

    3/10/2026Senate
  16. Read third time

    3/10/2026Senate
  17. Passed by for the day Block Vote (Voice Vote)

    3/9/2026Senate
  18. Constitutional reading dispensed Block Vote (on 2nd reading) (40-Y 0-N 0-A)

    3/9/2026Senate
  19. Rules suspended

    3/9/2026Senate
  20. Reported from Finance and Appropriations with amendment (10-Y 5-N)

    3/6/2026Senate
  21. Committee substitute printed 26108813D-S1

    2/27/2026Senate
  22. Reported from Rules with substitute and rereferred to Finance and Appropriations (12-Y 3-N)

    2/27/2026Senate
  23. Referred to Committee on Rules

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

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

    2/17/2026House

Bill Text

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