VirginiaSB2512026 Regular SessionSenateWALLET

Electric utilities; performance-based regulatory framework.

Sponsored By: Scott A. Surovell (Democratic)

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 HB 903.

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Bill Overview

Analyzed Economic Effects

6 provisions identified: 1 benefits, 0 costs, 5 mixed.

Public input and July 2027 report

By July 1, 2027, the Commission submits its findings to named committees and posts the report online. It must allow public comments and hold technical conferences. Investor-owned utilities must provide requested information. The Commission can hire experts and must include consumer advocates and the Division of Consumer Counsel.

Review all-source utility procurement

The Commission evaluates an all-source, competitive process for utility resource purchases. It also reviews other ways to improve utility solicitations. The review looks at cutting peak demand and lowering costs. Any procurement changes would come later.

Review of rate riders and base rates

The Commission evaluates whether to combine current rate riders and move some costs into base rates. It weighs customer benefits and keeping bills transparent. It also reviews how moving costs might shift investment risk to customers. Any billing changes happen later through law or regulation.

State review of utility performance rules

The State Corporation Commission reviews a performance-based regulation system for electric utilities. It considers current rules and a prior report. It identifies other parts of a possible framework and develops legislative recommendations. This study does not change your bill today. Any later changes would come through new laws or rules.

Study shared fuel cost risk

The Commission studies shared-risk policies for fuel costs at investor-owned utilities. It reviews how fuel price swings are shared between utilities and customers. When appropriate, it develops legislative recommendations. Any changes to bills come later.

Study utility incentives and performance goals

The Commission reviews ways to improve utility incentives to meet state energy efficiency and renewable targets. It also evaluates performance incentive mechanisms tied to clear, achievable goals. Recommendations happen only if they are necessary and appropriate. Any effects on customer costs or service would come later.

Sponsors & Cosponsors

Sponsor

  • Scott A. Surovell

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 180 • No: 70

Senate vote 3/12/2026

House amendment agreed to by Senate

Yes: 23 • No: 17

House vote 3/11/2026

Passed House with amendment

Yes: 62 • No: 33

House vote 3/6/2026

Reported from Rules with amendment(s)

Yes: 18 • No: 0

House vote 3/2/2026

Subcommittee recommends reporting with amendment(s)

Yes: 5 • No: 0

Senate vote 2/13/2026

Read third time and passed Senate

Yes: 23 • No: 16

Senate vote 2/12/2026

Committee substitute agreed to (Voice Vote)

Yes: 0 • No: 0

Senate vote 2/11/2026

Passed by for the day Block Vote (Voice Vote)

Yes: 0 • No: 0

Senate vote 2/11/2026

Constitutional reading dispensed Block Vote (on 1st reading)

Yes: 40 • No: 0

Senate vote 2/9/2026

Reported from Commerce and Labor with substitute

Yes: 9 • No: 4

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0702)

    4/13/2026Governor
  2. Approved by Governor-Chapter 702 (effective 7/1/2026)

    4/13/2026Governor
  3. Fiscal Impact Statement from State Corporation Commission (SB251)

    4/6/2026Senate
  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

    3/31/2026Senate
  6. Signed by Speaker

    3/31/2026House
  7. Bill text as passed Senate and House (SB251ER)

    3/30/2026Senate
  8. Enrolled

    3/30/2026Senate
  9. Signed by President

    3/30/2026Senate
  10. House amendment agreed to by Senate (23-Y 17-N 0-A)

    3/12/2026Senate
  11. Passed House with amendment (62-Y 33-N 0-A)

    3/11/2026House
  12. Engrossed by House as amended

    3/11/2026House
  13. committee amendment agreed to

    3/11/2026House
  14. Read third time

    3/11/2026House
  15. Moved from Uncontested Calendar to Regular Calendar

    3/11/2026House
  16. Read second time

    3/10/2026House
  17. Reported from Rules with amendment(s) (18-Y 0-N)

    3/6/2026House
  18. Subcommittee recommends reporting with amendment(s) (5-Y 0-N)

    3/2/2026House
  19. Assigned HRUL sub: Studies Subcommittee

    3/1/2026House
  20. Referred to Committee on Rules

    2/18/2026House
  21. Read first time

    2/18/2026House
  22. Placed on Calendar

    2/18/2026House
  23. Read third time and passed Senate (23-Y 16-N 0-A)

    2/13/2026Senate
  24. Committee substitute agreed to (Voice Vote)

    2/12/2026Senate
  25. Fiscal Impact Statement from State Corporation Commission (SB251)

    2/12/2026Senate

Bill Text

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