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VA HB74
VA HB74Electric utilities; recovery of development costs associated with small modular reactor.
summary
Introduced
12/31/2025
12/31/2025
In Committee
12/31/2025
12/31/2025
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Electric utilities; recovery of development costs associated with small modular reactor. Permits the State Corporation Commission to impose, as part of a final order approving cost recovery for Dominion Energy for project development of a small modular reactor (SMR), a deadline to either (i) place the SMR into commercial operation or (ii) refund all SMR project development costs recovered from customers. Current law allows the Commission to place such a deadline on either (a) placing the SMR into commercial operation or (b) selling the permitted site and returning the proceeds of such sale to customers.
AI Summary
This bill allows electric utilities to recover costs associated with developing small modular reactors (SMRs), which are smaller nuclear reactors with a capacity of up to 500 megawatts. The State Corporation Commission, the state's utility regulator, can approve these cost recoveries. A key change is that as part of approving cost recovery for SMR development, the Commission can now set a deadline for the utility to either get the SMR operating commercially or refund all the development costs that customers have already paid. This is a modification from current law, which allowed the Commission to set a deadline for either commercial operation or selling the site and returning the proceeds to customers.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
Left in Labor and Commerce (on 02/18/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/HB74 |
| Fiscal Note/Analysis - Fiscal Impact Statement from State Corporation Commission (HB74) | https://lis.blob.core.windows.net/files/1091288.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/HB74/text/HB74 |
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