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

Summary

This bill modifies Virginia law regarding how electric utilities can recover costs for developing small modular nuclear reactors (SMRs) from their customers. The key change requires utilities to refund all SMR project development costs recovered from customers if they fail to either place the reactor into commercial operation or sell the permitted site by a Commission-imposed deadline, replacing the current provision that only requires returning proceeds from a site sale. The amendment strengthens consumer protection by ensuring ratepayers are made whole if SMR projects fail to materialize, while maintaining existing provisions that limit rate increases to $1.40 per month for typical residential customers and require utilities to seek federal funding opportunities before recovering costs through customer rates.

Bill history

1. Invalid Date · House
   Prefiled and ordered printed; Offered 01-14-2026 26102923D
2. Invalid Date · House
   Referred to Committee on Labor and Commerce
3. Invalid Date · House
   Assigned HCL sub: Subcommittee #3
4. Invalid Date · House
   Fiscal Impact Statement from State Corporation Commission (HB74)
5. Invalid Date · House
   Subcommittee recommends laying on the table (8-Y 2-N)
6. Invalid Date · House
   Left in Labor and Commerce

Votes

Historical import. Session: 2026