McDonnell Signs Va Utility Regulation Bill - 47 ABC - Delmarva's Choice

McDonnell Signs Va Utility Regulation Bill

Posted: Updated:

RICHMOND, Va. (AP) - Gov. Bob McDonnell has signed legislation changing how Virginia regulators handle electric rates.
 
McDonnell on Thursday signed legislation that 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.
 
The Commission on Electric Utility Regulation had asked the parties to address part of a 2007 law that allowed utilities to get renewable energy bonuses after a report said the incentives have not yielded the intended environmental goals and have contributed to increases in customer bills.
 
The legislation eliminates those bonuses, but the state's voluntary renewable energy goals will remain intact.
 
It also changes performance incentives, the handling of accounting issues and an electric provider's potential rate of return.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • ContestsMore>>

  • Spring Gas Giveaway

    Spring Gas Giveaway

    Let WMDT fill up your tank! It's time for our Spring Gas Giveaway! More >>
    Enter for your chance to win a $100 Exxon/Mobil Gas Card!More >>
  • Teacher Who Makes A Difference

    Teacher Who Makes A Difference

    The WMDT 47 Teachers Who Make a Difference Contest is Sponsored by Accurate Optical: "Encouraging children of all ages to come in for an annual eye exam to help them see better in school." Each month weMore >>
    The WMDT 47 "Teachers Who Make a Difference" Sponsored by Accurate Optical Encouraging children of all ages to come in for an annual eye exam to help them see better in school.More >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.