{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-584.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-584.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-584.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-584.html"}],"law_id":60319,"edition_id":1,"section_id":60319,"structure_id":13084,"section_number":"56-584","catch_line":"Stranded costs","history":"1999, c. 411; 2007, cc. 888, 933.","full_text":"Just and reasonable net stranded costs, to the extent that they exceed zero value in total for the incumbent electric utility, shall be recoverable by each incumbent electric utility provided each incumbent electric utility shall only recover its just and reasonable net stranded costs through either capped rates as provided in \u00a7 56-582. To the extent not preempted by federal law, the establishment by the Commission of wires charges for any distribution cooperative shall be conditioned upon such cooperative entering into binding commitments by which it will pay to any power supply cooperative of which such distribution cooperative is or was a member, as compensation for such power supply cooperative&#8217;s stranded costs, all or part of the proceeds of such wires charges, as determined by the Commission.","order_by":null,"text":{"0":{"id":220616,"text":"Just and reasonable net stranded costs, to the extent that they exceed zero value in total for the incumbent electric utility, shall be recoverable by each incumbent electric utility provided each incumbent electric utility shall only recover its just and reasonable net stranded costs through either capped rates as provided in \u00a7 56-582. To the extent not preempted by federal law, the establishment by the Commission of wires charges for any distribution cooperative shall be conditioned upon such cooperative entering into binding commitments by which it will pay to any power supply cooperative of which such distribution cooperative is or was a member, as compensation for such power supply cooperative&#8217;s stranded costs, all or part of the proceeds of such wires charges, as determined by the Commission.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13084,"edition_id":1,"name":"Virginia Electric Utility Regulation Act","identifier":"23","label":"chapter","depth":2,"order_by":1,"parent_id":12881,"metadata":{},"date_created":"2026-06-26 03:44:15","date_modified":"2026-06-26 03:44:15","permalink":{"id":250597,"object_type":"structure","relational_id":13084,"identifier":"23","token":"56\/23","url":"\/56\/23\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12881,"edition_id":1,"name":"Public Service Companies","identifier":"56","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:58","date_modified":"2026-06-26 03:43:58","permalink":{"id":248473,"object_type":"structure","relational_id":12881,"identifier":"56","token":"56","url":"\/56\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":62210,"structure_id":13084,"section_number":"56-576","catch_line":"Definitions","url":"\/56-576\/","token":"56\/23\/56-576","metadata":false},{"id":79838,"structure_id":13084,"section_number":"56-577","catch_line":"Schedule for transition to retail competition; Commission authority; exemptions; pilot programs","url":"\/56-577\/","token":"56\/23\/56-577","metadata":false},{"id":69790,"structure_id":13084,"section_number":"56-577.1","catch_line":"Electric utilities; retail competition; pilot program","url":"\/56-577.1\/","token":"56\/23\/56-577.1","metadata":false},{"id":66769,"structure_id":13084,"section_number":"56-578","catch_line":"Nondiscriminatory access to transmission and distribution system","url":"\/56-578\/","token":"56\/23\/56-578","metadata":false},{"id":76158,"structure_id":13084,"section_number":"56-579","catch_line":"Regional transmission entities","url":"\/56-579\/","token":"56\/23\/56-579","metadata":false},{"id":77551,"structure_id":13084,"section_number":"56-580","catch_line":"Transmission and distribution of electric energy","url":"\/56-580\/","token":"56\/23\/56-580","metadata":false},{"id":76009,"structure_id":13084,"section_number":"56-581","catch_line":"Regulation of rates subject to Commission's jurisdiction","url":"\/56-581\/","token":"56\/23\/56-581","metadata":false},{"id":70038,"structure_id":13084,"section_number":"56-581.1","catch_line":"Repealed","url":"\/56-581.1\/","token":"56\/23\/56-581.1","metadata":false},{"id":75586,"structure_id":13084,"section_number":"56-582","catch_line":"Rate caps","url":"\/56-582\/","token":"56\/23\/56-582","metadata":false},{"id":60164,"structure_id":13084,"section_number":"56-583","catch_line":"Repealed","url":"\/56-583\/","token":"56\/23\/56-583","metadata":false},{"id":60319,"structure_id":13084,"section_number":"56-584","catch_line":"Stranded costs","url":"\/56-584\/","token":"56\/23\/56-584","metadata":false},{"id":66252,"structure_id":13084,"section_number":"56-585","catch_line":"Default service","url":"\/56-585\/","token":"56\/23\/56-585","metadata":false},{"id":67687,"structure_id":13084,"section_number":"56-585.1","catch_line":"Generation, distribution, and transmission rates after capped rates terminate or 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weatherization","url":"\/56-585.1_2\/","token":"56\/23\/56-585.1_2","metadata":false},{"id":78934,"structure_id":13084,"section_number":"56-585.1:3","catch_line":"Pilot programs for community solar development","url":"\/56-585.1_3\/","token":"56\/23\/56-585.1_3","metadata":false},{"id":86978,"structure_id":13084,"section_number":"56-585.1:4","catch_line":"Development of solar and wind generation and energy storage capacity in the Commonwealth","url":"\/56-585.1_4\/","token":"56\/23\/56-585.1_4","metadata":false},{"id":75808,"structure_id":13084,"section_number":"56-585.1:5","catch_line":"Pilot program for underground transmission lines","url":"\/56-585.1_5\/","token":"56\/23\/56-585.1_5","metadata":false},{"id":73594,"structure_id":13084,"section_number":"56-585.1:6","catch_line":"Pilot Programs to deploy electric power storage 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aggregation","url":"\/56-589\/","token":"56\/23\/56-589","metadata":false},{"id":59256,"structure_id":13084,"section_number":"56-589.1","catch_line":"Energy generation by public school buildings and facilities","url":"\/56-589.1\/","token":"56\/23\/56-589.1","metadata":false},{"id":86105,"structure_id":13084,"section_number":"56-590","catch_line":"Divestiture, functional separation and other corporate relationships","url":"\/56-590\/","token":"56\/23\/56-590","metadata":false},{"id":67461,"structure_id":13084,"section_number":"56-591","catch_line":"Application of antitrust laws","url":"\/56-591\/","token":"56\/23\/56-591","metadata":false},{"id":85339,"structure_id":13084,"section_number":"56-592","catch_line":"Consumer education and marketing practices","url":"\/56-592\/","token":"56\/23\/56-592","metadata":false},{"id":75703,"structure_id":13084,"section_number":"56-592.1","catch_line":"Consumer education program; scope and 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power purchase agreements; pilot programs","url":"\/56-594.02\/","token":"56\/23\/56-594.02","metadata":false},{"id":82596,"structure_id":13084,"section_number":"56-594.1","catch_line":"Interconnection by farms","url":"\/56-594.1\/","token":"56\/23\/56-594.1","metadata":false},{"id":78424,"structure_id":13084,"section_number":"56-594.2","catch_line":"Small agricultural generators","url":"\/56-594.2\/","token":"56\/23\/56-594.2","metadata":false},{"id":54132,"structure_id":13084,"section_number":"56-594.3","catch_line":"Shared solar programs; Phase II Utility","url":"\/56-594.3\/","token":"56\/23\/56-594.3","metadata":false},{"id":80234,"structure_id":13084,"section_number":"56-594.4","catch_line":"Shared solar programs; Phase I Utility","url":"\/56-594.4\/","token":"56\/23\/56-594.4","metadata":false},{"id":77419,"structure_id":13084,"section_number":"56-595","catch_line":"Repealed","url":"\/56-595\/","token":"56\/23\/56-595","metadata":false},{"id":69517,"structure_id":13084,"section_number":"56-596","catch_line":"Consideration of economic development; report","url":"\/56-596\/","token":"56\/23\/56-596","metadata":false},{"id":82462,"structure_id":13084,"section_number":"56-596.1","catch_line":"New generating facilities utilizing energy derived from sunlight and from wind; report","url":"\/56-596.1\/","token":"56\/23\/56-596.1","metadata":false},{"id":57383,"structure_id":13084,"section_number":"56-596.2","catch_line":"Energy efficiency policy and programs; financial assistance for low-income customers","url":"\/56-596.2\/","token":"56\/23\/56-596.2","metadata":false},{"id":80361,"structure_id":13084,"section_number":"56-596.2:1","catch_line":"Incentives for energy conservation measures and solar energy equipment","url":"\/56-596.2_1\/","token":"56\/23\/56-596.2_1","metadata":false},{"id":70146,"structure_id":13084,"section_number":"56-596.2:2","catch_line":"(Expires January 1, 2031) Energy efficiency savings targets for certain customers","url":"\/56-596.2_2\/","token":"56\/23\/56-596.2_2","metadata":false},{"id":71672,"structure_id":13084,"section_number":"56-596.3","catch_line":"Electric generation, transmission, and distribution; report","url":"\/56-596.3\/","token":"56\/23\/56-596.3","metadata":false},{"id":54473,"structure_id":13084,"section_number":"56-596.4","catch_line":"Electric utilities; local reliability data","url":"\/56-596.4\/","token":"56\/23\/56-596.4","metadata":false},{"id":75595,"structure_id":13084,"section_number":"56-596.5","catch_line":"Rate increases in certain months prohibited; Phase I Utility","url":"\/56-596.5\/","token":"56\/23\/56-596.5","metadata":false},{"id":80765,"structure_id":13084,"section_number":"56-596.6","catch_line":"Distribution cost sharing program","url":"\/56-596.6\/","token":"56\/23\/56-596.6","metadata":false}],"previous_section":{"id":60164,"structure_id":13084,"section_number":"56-583","catch_line":"Repealed","url":"\/56-583\/","token":"56\/23\/56-583","metadata":false},"next_section":{"id":66252,"structure_id":13084,"section_number":"56-585","catch_line":"Default service","url":"\/56-585\/","token":"56\/23\/56-585","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-584\/","history_text":"<p>This law was first created in 1999. The record of its establishment is cataloged in chapter <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?991+ful+CHAP0411\">411<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2007, chapters <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?071+ful+CHAP0888\">888<\/a> and <a href=\"https:\/\/legacylis.virginia.gov\/cgi-bin\/legp604.exe?071+ful+CHAP0933\">933<\/a>.<\/p>","references":false,"refers_to":[{"id":75586,"section_number":"56-582","catch_line":"Rate caps","order_by":null,"url":"\/56-582\/"}],"permalink":{"id":250639,"object_type":"law","relational_id":60319,"identifier":"56-584","token":"56\/23\/56-584","url":"\/56-584\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-584\/","token":"56\/23\/56-584","dublin_core":{"Title":"Stranded costs","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-584","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Just and reasonable net stranded costs, to the extent that they exceed zero value in total for the <span class=\"dictionary\">incumbent electric utility<\/span>, shall be recoverable by each <span class=\"dictionary\">incumbent electric utility<\/span> provided each <span class=\"dictionary\">incumbent electric utility<\/span> shall only recover its just and reasonable net stranded costs through either capped <span class=\"dictionary\">rates<\/span> as provided in \u00a7&nbsp;<a class=\"law\" title=\"Rate caps\" href=\"\/56-582\/\">56-582<\/a>. To the extent not preempted by federal <span class=\"dictionary\">law<\/span>, the establishment by the <span class=\"dictionary\">Commission<\/span> of wires charges for any distribution <span class=\"dictionary\">cooperative<\/span> shall be conditioned upon such <span class=\"dictionary\">cooperative<\/span> entering into binding commitments by which it will pay to any power <span class=\"dictionary\">supply<\/span> <span class=\"dictionary\">cooperative<\/span> of which such distribution <span class=\"dictionary\">cooperative<\/span> is or was a member, as compensation for such power <span class=\"dictionary\">supply<\/span> <span class=\"dictionary\">cooperative<\/span>&#8217;s stranded costs, all or part of the proceeds of such wires charges, as determined by the <span class=\"dictionary\">Commission<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nSTRANDED COSTS (\u00a7 56-584)\n\nJust and reasonable net stranded costs, to the extent that they exceed zero\nvalue in total for the incumbent electric utility, shall be recoverable by each\nincumbent electric utility provided each incumbent electric utility shall only\nrecover its just and reasonable net stranded costs through either capped rates\nas provided in \u00a7 56-582. To the extent not preempted by federal law, the\nestablishment by the Commission of wires charges for any distribution\ncooperative shall be conditioned upon such cooperative entering into binding\ncommitments by which it will pay to any power supply cooperative of which such\ndistribution cooperative is or was a member, as compensation for such power\nsupply cooperative&#8217;s stranded costs, all or part of the proceeds of such\nwires charges, as determined by the Commission.\n\nHISTORY: 1999, c. 411; 2007, cc. 888, 933.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}