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SB 691

State Corporation Commission; Phase I Utility biennial rate review, reports.

2026 Regular Session Introduced by Mitchell Cornett and 2 co-sponsors

SB 691 requires Virginia utilities to undergo structured rate reviews every two years through the State Corporation Commission, creating predictable regulatory oversight of utility rates.

Fiscal Impact Statement from State Corporation Commission (SB691)
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Bill Summary · SB 691

Legislative bill overview

SB 691 establishes a biennial rate review process for Virginia utilities under the State Corporation Commission's oversight. The bill requires utilities to submit comprehensive reports and undergo structured rate examinations every two years rather than ad-hoc reviews, creating a more predictable regulatory schedule.

Why is this important

Utility rates directly affect household and business electricity/gas bills, making the review process crucial for consumer protection and utility planning. A formalized biennial schedule provides transparency and predictability for both consumers and utilities in rate-setting, potentially reducing regulatory uncertainty while ensuring regular oversight of rate justification.

Potential points of contention

  • Cost burden on utilities: Requiring comprehensive biennial filings could increase administrative costs for utilities, which may be passed to ratepayers
  • Rate increase frequency: Regular biennial reviews may facilitate more frequent rate adjustments, potentially limiting the time between increases consumers experience
  • SCC resource requirements: The bill mandates additional regulatory review work without clear funding provisions for the State Corporation Commission's expanded duties

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

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