va utilities law 2-22-13

Virginia electric customers could see a decrease in bills

Electric bills could soon go down for Virginia customers.
Virginia Governor Bob McDonnell signed a bill today changing how regulators handle electric rates.
The bill eliminates renewable energy bonuses and makes other regulatory changes, following a deal between Attorney General Ken Cuccinelli's office, Dominion Virginia Power and Appalachian Power.
Cuccinelli's office conducted a five-year review of the impact and effectiveness of incentives included in a 2007 law that allowed utilities to get renewable energy bonuses.
The review took place after a report came out showing the bonuses contributed to increases in customer bills.
The new law is expected to save money for APCO and Dominon customers, while maintaining the goals of the original legislation.

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