Code of Virginia § 56-584. Stranded costs.
138 words·~1 min read·
/va/title-56/chapter-23/56-584A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 .