LIS

Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 20. Public Utilities And Telecommunications
Agency 5. State Corporation Commission
Chapter 320. Regulations Governing Transfer of Transmission Assets to Regional Transmission Entities
10/15/2024

20VAC5-320-110. Contents of incumbent electric utility filing, Part II.

Part II of the filing required pursuant to 20VAC5-320-90 shall include, at a minimum, the following:

1. A copy of the transaction agreement signed by an appropriate utility official.

2. A description of the proposed transfer and the terms and conditions of the transaction to include historical and current use of the property, proposed use of the property, original cost of the property, current net book cost of the property, proposed sales price of the property and the method of determining the price, and the proposed accounting treatment of the transaction as well as current recording on company's books of record.

3. Assurances that adequate service to the public at just and reasonable rates will not be impaired by the proposed transfer.

4. Other details of the sale, such as:

a. A showing that the sales price was or will be determined at arms length;

b. A description of whether the purchase price is at book cost, market value, or some other measure;

c. A description of how the proceeds from the sale will be used;

d. A schedule of plant, book depreciation, and contributed property related to the assets to be transferred up to the current date;

e. An analysis of the anticipated impact of the transfer on the regulated company's rates and service, capital structure, and access to capital and financial markets, including copies of any pertinent published financial reports.

5. Discussion of favorable and unfavorable economic impacts on the Commonwealth of Virginia to include employee levels, facilities, and services provided.

6. Anticipated impact of the transfer on competition and market power.

Statutory Authority

§§ 12.1-13 and 56-579 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 16, Issue 24, eff. July 19, 2000.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.