VA HB921

Amends Virginia Code § 56-577 to expand retail electric competition by removing the upper limit cap on customer demand, allowing all nonresidential customers of Phase I or Phase II utilities with noncoincident peak demand exceeding five megawatts to purchase electricity from licensed retail suppliers

Reduces the advance written notice period for customers returning to their incumbent utility from five years to eighteen months, and establishes a fixed 12-month minimum stay period for returning customers

Prohibits residential customers and small nonresidential customers with peak loads of 150 kilowatts or less from purchasing electricity from licensed retail suppliers

Permits Phase I and Phase II utilities to petition the State Corporation Commission to reallocate generation and distribution costs when there is a net loss or gain of 100 megawatts or more of customers switching between the utility and licensed suppliers, effective July 1, 2026

Removes the separate three-year notice provision for customers of utilities using the Fixed Resource Requirement alternative, making the eighteen-month notice period applicable to all eligible customers