RICHMOND, Va. (AP) — A new report says customers of Virginia’s two largest electric utilities would be paying lower bills if not for a 2015 law that temporarily blocks state regulators from reviewing and adjusting rates.
The State Corporation Commission issued a report last week that shows Dominion Energy and Appalachian Power are earning higher profits than they would be entitled to if not for the law.
Dominion’s customers would be due about a $130 million refund on bills paid in 2015 and 2016. And the state’s largest electric utility’s rates would be lowered so that it earned about $400 million less in 2018, depending how the commission calculated the costs for coal ash clean up.
A Dominion spokesman disputed parts of the SCC’s analysis and said the company’s rates are not too high.