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HB 1062

Electric utilities; pilot program for electric energy conservation, solar energy generation.

2026 Regular Session Introduced by Katrina Callsen and 3 co-sponsors

HB 1062 mandates Virginia utilities create energy upgrade programs with capital investments recoverable through customer rates, potentially increasing electricity costs for consumers.

Approved by Governor-Chapter 727 (effective 7/1/2026)
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Bill Summary · HB 1062

Legislative bill overview

HB 1062 requires Virginia utilities to develop and implement energy upgrade programs with detailed implementation plans and specified capital investment requirements. The bill establishes mechanisms for cost recovery, allowing utilities to recoup investments in these upgrade initiatives through regulated rates.

Why is this important

Energy upgrade programs directly affect electricity costs for Virginia consumers and influence the state's transition to modernized grid infrastructure. The bill determines how utility companies finance infrastructure improvements and whether those costs are passed to ratepayers, impacting both residential and commercial energy bills.

Potential points of contention

  • Cost allocation and rate impacts: Consumers may face higher electricity rates to fund utility capital investments, raising affordability concerns, particularly for low-income households
  • Regulatory oversight and utility profits: The bill's cost recovery mechanisms could allow utilities to earn returns on investments, creating debate over whether ratepayers should subsidize utility shareholder returns
  • Implementation flexibility vs. mandates: The extent to which utilities have discretion in planning versus facing rigid requirements affects feasibility and competitive disadvantages between utilities

Compiled from official sources — confirm details with the bill’s official record.

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