RICHMOND, Va. (AP) — The Virginia Senate has passed legislation putting new limits on regulators’ ability to lower utilities’ electric rates that are currently earning excessive profits.
Virginia Senate Passes Dominion-Backed Regulation Rewrite
2/9/2018
The Senate voted Friday for the bill, which also providing some rebates for past overearnings.
The vote came despite warnings from the attorney general’s office and regulators that it could result in billions of dollars in unnecessary costs while also effectively forcing customers to pay twice for some projects.
Supporters of the legislation included Dominion Energy, Appalachian Power, Democratic Gov. Ralph Northam and others.
They say the overhaul of state regulations is needed to help Virginia catch up to other states in renewable energy and modernizing the electric grid without incurring dramatic price swings.
A House vote is expected next week.
Related News
From Archive
Sign up to Receive Our Newsletter
- DeLa Express seeks FERC approval for Permian-to-Louisiana gas pipeline project
- Hudson Tunnel Project set to generate 95,000 jobs during construction phase, report says
- OSHA penalizes Houston contractor over safety violations resulting in worker's death
- Charleston Water System settles huge lawsuit over sewer system damage caused by non-flushable wipes
- Boring machine 'Chessie' resumes drilling at Chesapeake Bay Bridge-Tunnel site after anchor incident
- Ditch Witch 1030
- 24th Annual Directional Drilling Survey
- Michigan lawmakers introduce bills to create septic codes throughout the state
- House passes Rep. Duarte's legislation to streamline water permitting processes in the Valley
- Court approves 3M settlement over ‘forever chemicals’ in public drinking water systems
Comments