Virginia SB 512

Electric utilities; rates for generation and distribution services; notice of energy rationing. Prohibits the State Corporation Commission from approving a rate increase proposed by Dominion Energy or Appalachian Power Company unless the utility demonstrates a net increase in total electric generating capacity within the previous rate period. The bill requires any electric utility that, due to an emergency or other energy shortage, rations energy to avoid power outages, including by conducting fuel rationing, load shedding, or disconnections or imposing surcharges, to provide written notice of such rationing to such utility's customers within 10 days after such rationing occurs.The bill also prohibits the retirement or full decommissioning of an electric generation facility with a capacity of more than 20 megawatts unless the Commission determines that sufficient electric generation capacity located in the Commonwealth exists to meet at least 90 percent of all current and forecasted electric demand in the Commonwealth. The bill also provides that if the Commonwealth rejoins the Regional Greenhouse Gas Initiative and resumes participation therein, no electric utility that incurs an expense of more than $10 million as a result of such participation shall recover any portion of such expense from its customers.