VA HB903

Directs the State Corporation Commission to evaluate whether performance-based regulation of electric utilities would benefit Virginia consumers and develop legislative recommendations by March 1, 2027

Requires assessment of consolidating existing rate adjustment clauses and transitioning costs currently recovered through these clauses into base rates

Mandates evaluation of shared risk policies for fuel cost management by investor-owned utilities and incentives for meeting energy efficiency and renewable energy targets

Directs analysis of performance-incentive mechanisms for priority outcomes and all-source competitive procurement frameworks to improve cost efficiency and reduce peak demand

Requires public comment periods, technical conferences, and stakeholder participation including consumer advocates, utility regulation experts, and the Division of Consumer Counsel