RICHMOND, Va. (AP) - A Virginia legislative panel is set to discuss a proposed deal between the attorney general's office and the state's largest electric companies to repeal renewable energy incentives.
The General Assembly's Commission on Electric Utility Regulation is scheduled to meet Thursday in Richmond.
The commission had asked Attorney General Ken Cuccinelli's office to work with electric utilities to reform part of the 2007 law that changed how regulators handled utility rates.
A November report by Cuccinelli's office said the incentives have not yielded the intended environmental goals and have contributed to increases in customer bills.
The agreement would eliminate those bonuses but officials say voluntary renewable energy goals would remain intact.
It also proposes changes to performance incentives, the handling of accounting issues and an electric provider's potential rate of return.
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