§56- ____ Each electric utility in the Commonwealth shall be entitled to recover in full its net stranded costs incurred as a result of the deregulation of generation of electric energy in the Commonwealth.

§ 56- ____ Net Stranded costs shall be the jurisdictional amount of verifiable, prudent, and necessary costs which the State Corporation Commission determines cannot, or are not likely to, be recovered by the electric utility from the competitive market over the remaining useful life of such assets, after the electric utility uses all reasonable efforts to mitigate such costs, including the consideration of stranded benefits.

§ The determination of net stranded costs for an electric utility shall be made upon application by the electric utility and after notice and evidentiary hearing by the State Corporation Commission. An electric utility seeking recovery of net stranded costs shall bear the burden of proving that such costs were prudently incurred.

§ Net stranded costs may be collected by the utility through a non-bypassable surcharge imposed on all of a utility’s customers. The design of such surcharge shall be equitably applied to all customer classes.

§ Such net stranded costs shall be collected for a period of no more than ten years after implementation of the non-bypassable surcharge in the Commonwealth, unless deemed necessary by the State Corporation Commission, subject to the discretion of the State Corporation Commission.

§ Customers of an electric utility in the Commonwealth shall not be required to pay an exit fee to that electric utility in order to effectuate a change to another electric service provider.

ADDITIONAL NOTES FOR INCLUSION ON THE MATRIX:

Washington Gas agrees with the Alert position on stranded benefits as explained in the draft matrix
Washington Gas agrees with the State Corporation Commission’s position on rate caps (v. freezes)
Washington Gas considers the ten year recovery period the transition period as well
Mitigation: all actions or occurrences that reduce the amount of money that an electric company would need to collect in order to recover its embedded costs including purchase power contracts
Washington Gas concurs with the State Corporation Commission on true up mechanism