- Associated Press - Monday, January 16, 2017

RICHMOND, Va. (AP) - A Virginia Senate committee has voted down legislation supporters say would cut electric rates.

The Senate’s Commerce and Labor Committee voted Monday to scuttle a bill by Sen. Chap Petersen to undo a 2015 law and revive the state’s ability to lower the base rates of electric monopolies.

Virginia temporarily suspended its ability in 2015 to adjust the base rates of Dominion Virginia Power and Appalachian Power over concerns of carbon emission regulations.

Opponents called it a giveaway to Dominion, the state’s largest utility. The 2015 law is costing a typical Dominion residential customer $68 a year, according to one group’s calculations.

Dominion said the 2015 law protected consumers against higher rates and was still needed because of continued uncertainty around carbon regulation.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide