VirginiaSB5052026 Regular SessionSenateWALLET

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

Sponsored By: R. Creigh Deeds (Democratic)

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 HB 1256.

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Bill Overview

Analyzed Economic Effects

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

State review of utility fuel costs

Beginning July 1, 2026, state regulators review how Phase I and Phase II utilities manage fuel and purchased‑power cost risks. They consider national best practices, like cost sharing and hedging, and a 2024 consultant report on regulatory tools. They also quantify how utility‑owned or contracted renewables offset net fuel and purchased‑power costs. The Commission assesses whether it has enough authority over procurement and to set new risk‑mitigation strategies. It includes any needed legislative recommendations in its annual report to the General Assembly. The goal is to limit cost swings while keeping service reliable.

Sponsors & Cosponsors

Sponsor

  • R. Creigh Deeds

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 210 • No: 1

House vote 2/27/2026

Passed House

Yes: 96 • No: 0

House vote 2/24/2026

Reported from Labor and Commerce

Yes: 21 • No: 1

Senate vote 2/13/2026

Read third time and passed Senate Block Vote

Yes: 39 • No: 0

Senate vote 2/12/2026

Commerce and Labor Substitute agreed to

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: 14 • No: 0

Actions Timeline

  1. Acts of Assembly Chapter text (CHAP0030)

    3/31/2026Governor
  2. Approved by Governor-Chapter 30 (effective 7/1/2026)

    3/31/2026Governor
  3. Fiscal Impact Statement from State Corporation Commission (SB505)

    3/12/2026Senate
  4. Governor's Action Deadline 11:59 p.m., April 13, 2026

    3/10/2026Governor
  5. Enrolled Bill communicated to Governor on March 10, 2026

    3/10/2026Senate
  6. Bill text as passed Senate and House (SB505ER)

    3/4/2026Senate
  7. Enrolled

    3/4/2026Senate
  8. Signed by President

    3/4/2026Senate
  9. Signed by Speaker

    3/4/2026House
  10. Passed House (96-Y 0-N 0-A)

    2/27/2026House
  11. Read third time

    2/27/2026House
  12. Read second time

    2/26/2026House
  13. Reported from Labor and Commerce (21-Y 1-N)

    2/24/2026House
  14. Referred to Committee on Labor and Commerce

    2/18/2026House
  15. Read first time

    2/18/2026House
  16. Placed on Calendar

    2/18/2026House
  17. Fiscal Impact Statement from State Corporation Commission (SB505)

    2/16/2026Senate
  18. Read third time and passed Senate Block Vote (39-Y 0-N 0-A)

    2/13/2026Senate
  19. Commerce and Labor Substitute agreed to

    2/12/2026Senate
  20. Engrossed by Senate - committee substitute Block Vote (Voice Vote)

    2/12/2026Senate
  21. Read second time

    2/12/2026Senate
  22. Passed by for the day Block Vote (Voice Vote)

    2/11/2026Senate
  23. Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)

    2/11/2026Senate
  24. Rules suspended

    2/11/2026Senate
  25. Committee substitute printed 26107572D-S1

    2/10/2026Senate

Bill Text

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