RICHMOND, Va. (AP) — The Virginia State Corporation Commission has ruled a 2015 law that froze electric rate reviews and could cost customers hundreds of millions of dollars is constitutional.
The commission issued ruling 2 to 1 Friday dismissing a challenge to the law from large industrial customers of Appalachian Power.
The majority said its ruling was based only on legal merits, not whether customers will pay more than they should.
State Corporation Commissioner James C. Dimitri dissented. He said the law was unconditional on its face because it amounted to the General Assembly effectively setting rates for electric companies.
The law was shepherded through the General Assembly by Dominion Virginia Power, the state’s largest electric utility. Dimitri said Dominion could potentially make more than $1 billion at customer expense because of the law.
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