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Advocates, researchers and a competitive supplier press for fewer riders and longer multiyear rate plans to restore cost containment incentives
Summary
Presenters at the Virginia PBR stakeholder meeting argued that widespread use of rate adjustment clauses (riders) and frequent biennial reviews weaken utilities' incentives to control costs; several stakeholders suggested exploring multi‑year rate plans with attrition mechanisms, stronger prudency review resources, and limited trackers.
A range of stakeholders at the Virginia Performance Based Regulation stakeholder meeting urged the commission and the stakeholder group to examine whether Virginia’s heavy reliance on rate adjustment clauses and frequent filings has weakened cost containment incentives and whether a multiyear rate plan would strengthen utility performance and lower costs for customers.
"The cleanest, cheapest energy is the energy never generated," Lena Lewis, energy and climate policy manager at The Nature Conservancy’s Virginia chapter, said during her presentation on energy efficiency. Lewis and other presenters framed the regulatory incentives question around whether utilities are rewarded for selling more electricity and building capital‑intensive projects rather than for reducing demand or maximizing efficiency.
Clean Virginia’s analysis Laura Gonzalez of Clean Virginia presented an…
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