HB 1360

Policy of the Commonwealth regarding investor-owned electric utilities; State Corporation Commission to investigate certain practices. States that it shall be the policy of the Commonwealth that no investor-owned electric utility operating in the Commonwealth shall engage in practices that distort wholesale energy markets. The bill directs the State Corporation Commission to investigate and remedy any such practices by investor-owned electric utilities in the Commonwealth. The bill also creates a rebuttable presumption for cost recovery proceedings initiated after January 1, 2026, that certain costs are unreasonable and imprudent in situations where the investor-owned electric utility operates an electric generation facility when the marginal operating costs of such facility are higher than the energy market clearing price set by the regional transmission entity.