Bill > HB242

This bill, concerning public utilities and their budget plans, aims to provide more predictability for residential customers by limiting how often their monthly payments can be increased and requiring advance notice. A "budget plan" is defined as a fixed billing option where a utility estimates a customer's total service cost for the next 12 months and then divides that total into equal monthly payments, essentially smoothing out seasonal fluctuations. Under this bill, a public utility will be prohibited from increasing a residential customer's monthly payment under such a budget plan more than once within any 12-month period. Furthermore, any such increase will require the utility to notify the customer in writing at least 60 days before the new payment amount takes effect, an increase from the previous 30-day notice period.

Business and Industry

https://lis.virginia.gov/bill-details/20261/HB242