56-584 - Stranded costs. - Virginia Statutes

§ 56-584. Stranded costs.

Just and reasonable net stranded costs, to the extent that they exceed zerovalue in total for the incumbent electric utility, shall be recoverable byeach incumbent electric utility provided each incumbent electric utilityshall only recover its just and reasonable net stranded costs through eithercapped rates as provided in § 56-582. To the extent not preempted by federallaw, the establishment by the Commission of wires charges for anydistribution cooperative shall be conditioned upon such cooperative enteringinto binding commitments by which it will pay to any power supply cooperativeof which such distribution cooperative is or was a member, as compensationfor such power supply cooperative's stranded costs, all or part of theproceeds of such wires charges, as determined by the Commission.

(1999, c. 411; 2007, cc. 888, 933.)