HB1323: Electric utilities; recovery of development costs associated with small modular reactor.

Legislative Summary

Electric utilities; recovery of development costs associated with small modular reactor. Permits American Electric Power (Phase I Utility) and Dominion Energy Virginia (Phase II Utility) to petition the State Corporation Commission at any time for the approval of a rate adjustment clause for the recovery of small modular reactor project development costs. The bill also permits the utility to petition the Commission for project development cost recovery along separate development phases.