VA SB818

Removes the upper cap on electricity demand for retail competition eligibility, allowing nonresidential customers of Phase I and Phase II utilities with noncoincident peak demand exceeding 5 megawatts to purchase from licensed retail suppliers regardless of how large their demand is

Reduces the advance written notice period for customers returning to their incumbent utility from five years to eighteen months, with a 12-month minimum stay requirement upon return

Explicitly prohibits residential customers and small nonresidential customers (150 kilowatts or less peak load) from purchasing electricity from licensed retail suppliers

Allows 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 customer load to or from retail suppliers, effective July 1, 2026

Authorizes utilities to apply market-based tariffs to returning customers after the eighteen-month notice period expires