(SB253)

GOVERNOR'S RECOMMENDATION

1. Line 31, enrolled, after the

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total

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Commission shall, in its sole discretion, determine whether any proposed

2. Line 31, enrolled, after conversion

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that

3. Line 31, enrolled, after are

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to be deemed

4. Line 31, enrolled, after reasonable

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the remainder of line 31 and through petition on line 32

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and prudent, except that no such cost

5. Line 32, enrolled, after shall

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not

6. Line 35, enrolled, after exceeds

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four

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two

7. Line 38, enrolled, after That

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the remainder of line 38 and all of lines 39 through 64

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in any proceeding to determine rates for generation and distribution services conducted by the State Corporation Commission (the Commission) pursuant to subdivision A 3 of § 56-585.1 of the Code of Virginia (biennial review proceeding) for a Phase II Utility, as defined in subdivision A 1 of § 56-585.1 of the Code of Virginia, the Commission shall, in approving rates for generation and distribution services and determining appropriate customer class cost allocations, take all measures to reasonably ensure that costs associated with customers taking service under the terms and conditions for customers with a contracted or measured electric demand of 25 megawatts or greater and an anticipated or measured average annual electric load factor of 75 percent or greater (high load customers) are not being subsidized by other customers of the utility, and that such other customers' approved rates are not being adversely impacted by such customers taking service under the terms and conditions for high load customers.

8. Line 68, enrolled, after least

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200

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10,000

9. Line 77, enrolled

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all of lines 77 through 96 and through 6. on line 97

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5.

10. Line 104, enrolled, after hearing,

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shall, in its sole discretion, determine whether such financing order is in the public interest and

11. After line 106, enrolled

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6. That, notwithstanding any provision of subdivision A 2 of § 56-585.1 of the Code of Virginia, in any proceeding to determine rates for generation and distribution services conducted by the State Corporation Commission (the Commission) pursuant to subdivision A 3 of § 56-585.1 of the Code of Virginia (biennial review proceeding) commencing in 2027 for a Phase II Utility, as defined in subdivision A 1 of § 56-585.1 of the Code of Virginia, if the Commission determines that such utility has a combined rate of return of 9.3 percent or greater, the Commission shall direct that any such earnings that were above 9.3 percent be credited to customers' bills.