                                 CODE OF VIRGINIA

STRANDED COSTS (§ 56-584)

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 § 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.

HISTORY: 1999, c. 411; 2007, cc. 888, 933.