SCC sets fuel rate for Dominion
The State Corporation Commission has approved a new fuel rate requested by Dominion Virginia Power that will take effect on July 1. The SCC accepted a plan that will spread the higher costs for fuel over a two-year period instead of the normal one-year recovery period. Ratepayers are not charged the financing costs of spreading the payment over two years.
For the average residential customer, the fuel rate increase means the monthly bill for 1,000 kilowatt hours of electricity will increase $4.86 from $103.91 to $108.77. If the full increase was recovered in one year, the monthly bill of a residential customer would increase $8.17 to $112.08.
According to Dominion Virginia Power, the increase was driven, for the most part, by rising fuel prices and the effect of last year’s hotter-than-normal summer and colder-than-normal winter.
The fuel rate is the portion of the electric bill that pays for the fuel used to generate electricity and the purchase of power from the wholesale market. Dominion Virginia Power is statutorily entitled to recover its prudently incurred fuel costs. This is a dollar-for-dollar recovery, and the company can make no profit on recovery of fuel expenses.
The fuel rate is reviewed annually by the SCC and re-set, as necessary, to reflect actual fuel expenses for the previous year and projected fuel expenses for the coming year.
Frank Nolen: Let the SCC set rates
Column by Frank Nolen
Submit guest columns: freepress2@ntelos.net
In 2007 the General Assembly passed legislation that greatly reduced the ability of the State Corporation Commission (SCC) to set just and reasonable electric rates. The result has been a 60 percent increase in the electric rates paid by customers of the Appalachian Power Company and a 26 percent increase in rates for Dominion Virginia Power customers.
The 2007 legislature all but guaranteed the return on equity that Apco and Dominion can earn on investments, instead of leaving that decision up to the SCC based on expert testimony. It also allowed Apco and Dominion to be paid for new power plants through add-on rate riders as they are being built, instead of being paid through the general rates after we start receiving electricity from the new plant. And it allowed the power companies to impose other individual riders for specific costs, such as transmission or environmental compliance. The legislated return on equity and various rate riders combined are adding already to what we pay as customers, and in the future will add far more. Continue reading “Frank Nolen: Let the SCC set rates” »
Dominion Power rates to drop – slightly – effective Jan. 1
Staff Report
News Tips: freepress2@ntelos.net
Rates for Dominion Virginia Power customers will be reduced on Jan. 1, 2010, in accordance with changes approved by the Virginia State Corporation Commission (SCC). For the typical residential customer who uses 1,000 kilowatt-hours of electricity, the net result is a decrease in the monthly electric bill of 87 cents, or 0.8 percent, from $109.23 to $108.36.
The SCC ordered Dec. 16 that the interim fuel factor be reduced to 2.927 cents per kWh, which translates to a reduction of $3.83 per month for the typical residential customer. The reduction was based on data the company submitted on the continuing declines in prices for coal, natural gas and other fuel used to generate electricity.
The fuel factor also was reduced in July and October 2009. The three adjustments result in reducing the typical residential customer’s bill by a total of $9.66 per month. Continue reading “Dominion Power rates to drop – slightly – effective Jan. 1” »
State, Dominion partnering on electric-vehicle charging stations
Gov. Timothy M. Kaine today announced as part of his Renew Virginia initiative a partnership with Dominion Virginia Power to install electric vehicle charging stations at certain state rest areas. These charging stations, installed at no cost to the state, are designed to accommodate most of today’s hybrid electric vehicles and use of the stations will be complimentary. Earlier this month the first electric vehicle charging stations were installed at the westbound New Kent Safety Rest Area on Interstate 64 and can charge up to four vehicles at a time. Continue reading “State, Dominion partnering on electric-vehicle charging stations” »
Judge rules state board violated federal law in Wise County coal-fired plant case
In a momentous victory for clean energy advocates in Virginia, a Richmond Circuit Court judge ruled today that the State Air Pollution Control Board violated federal environmental law in permitting Dominion Power’s coal-fired power plant in Wise County in the southwest corner of the state. Continue reading “Judge rules state board violated federal law in Wise County coal-fired plant case” »
Winners and Losers: June 27, 2008
Compiled by Chris Graham
freepress2@ntelos.net
LOSERS: You, me and everybody we know
The State Corporation Commission said today that it has approved Dominion Virginia Power’s request for an 18 percent rate hike.
Yippee.
The average residential utility bill will go up $16.61 a month with the rate increase.
The good news – Dominion deferred about $700 million in cost increases that it is seeing due to increased fuel costs to reduce the hike by 4 percent.
Continue reading “Winners and Losers: June 27, 2008” »
Webb notes concern over Dominion rate increase
Item by Chris Graham
freepress2@ntelos.net
Dominion Virginia Power customers could see increases in their monthly bills in the range of $15 to $20 per month. U.S. Sen. Jim Webb wants to know why.
Webb, D-Va., has written the Virginia State Corporation Commission to inquire into the requested rate increase from Dominion. In a letter dated Wednesday, Webb noted that his office has heard from many Virginia families concerned about the potential rate increase. Continue reading “Webb notes concern over Dominion rate increase” »
