Just and reasonable net stranded costs, to the extent that they exceed zero value in total for the incumbent electric utility, shall be recoverable by each incumbent electric utility provided each incumbent electric utility shall only recover its just and reasonable net stranded costs through either capped rates as provided in § 56-582. To the extent not preempted by federal law, the establishment by the Commission of wires charges for any distribution cooperative shall be conditioned upon such cooperative entering into binding commitments by which it will pay to any power supply cooperative of which such distribution cooperative is or was a member, as compensation for such power supply cooperative's stranded costs, all or part of the proceeds of such wires charges, as determined by the Commission.
1999, c. 411; 2007, cc. 888, 933.
Structure Code of Virginia
Title 56 - Public Service Companies
Chapter 23 - Virginia Electric Utility Regulation Act
§ 56-577.1. Electric utilities; retail competition; pilot program
§ 56-578. Nondiscriminatory access to transmission and distribution system
§ 56-579. Regional transmission entities
§ 56-580. Transmission and distribution of electric energy
§ 56-581. Regulation of rates subject to Commission's jurisdiction
§ 56-585.1. Generation, distribution, and transmission rates after capped rates terminate or expire
§ 56-585.1:2. Pilot program for energy assistance and weatherization
§ 56-585.1:3. Pilot programs for community solar development
§ 56-585.1:5. Pilot program for underground transmission lines
§ 56-585.1:6. Pilot Programs to deploy electric power storage batteries
§ 56-585.1:7. Pilot program for electric generation by public schools
§ 56-585.1:8. Pilot program for municipal net energy metering
§ 56-585.1:9. Provision of broadband capacity to unserved areas of the Commonwealth
§ 56-585.1:11. Development of offshore wind capacity
§ 56-585.1:12. Multi-family shared solar program
§ 56-585.1:13. Recovery of costs associated with investment in transportation electification
§ 56-585.3. Regulation of cooperative rates after rate caps
§ 56-585.4. Net energy metering transition provisions for electric cooperatives
§ 56-585.5. Generation of electricity from renewable and zero carbon sources
§ 56-585.6. Universal service fee; Percentage of Income Payment Program and Fund
§ 56-585.7. On-bill tariff program; electric cooperatives
§ 56-586. Emergency service provider
§ 56-586.1. Electric energy emergencies
§ 56-588. Licensing of aggregators
§ 56-589. Municipal and state aggregation
§ 56-589.1. Energy generation by public school buildings and facilities
§ 56-590. Divestiture, functional separation and other corporate relationships
§ 56-591. Application of antitrust laws
§ 56-592. Consumer education and marketing practices
§ 56-592.1. Consumer education program; scope and funding
§ 56-593. Retail customers' private right of action; marketing practices
§ 56-594. Net energy metering provisions
§ 56-594.01. Net energy metering provisions for electric cooperative service territories
§ 56-594.01:1. Local facilities usage charges; electric cooperatives
§ 56-594.1. Interconnection by farms
§ 56-594.2. Small agricultural generators
§ 56-594.3. Shared solar programs
§ 56-596. Consideration of economic development; report
§ 56-596.1. New generating facilities utilizing energy derived from sunlight and from wind; report
§ 56-596.2. Energy efficiency programs; financial assistance for low-income customers
§ 56-596.2:1. Incentives for energy conservation measures and solar energy equipment
§ 56-596.3. Electric generation, transmission, and distribution; report