Legislation aimed at holding utility monopolies accountable and protecting Virginia consumers is headed to the floor of the House of Delegates.
HB 2200, introduced by Norfolk Democratic Del. Jay Jones, restores the State Corporation Commission’s oversight power to review the earnings and set the rates of investor-owned incumbent electric utilities.
“For too long, Dominion Energy has run roughshod over our government and pickpocketed money from ratepayers. Over the past three years alone, Dominion has overcharged its customers by over half a billion dollars,” said Jones, a candidate for the Democratic Party attorney general nomination.
Over the past decade or more, successive bills from the General Assembly have eroded the State Corporation Commission’s oversight power with respect to our electric utilities, which exempts many costs and accounting maneuvers from Commission review.
In the past three years, Dominion Energy has overcharged its customers by more than $500 million, and the State Corporation Commission is almost powerless to return any of those excess profits back to ratepayers.
HB 2200 would restore the State Corporation Commission’s oversight power and will aid in holding utility monopolies accountable.
This bipartisan bill will better empower the State Corporation Commission to conduct real oversight over utility monopolies, ensure our consumers aren’t being overcharged for their electric bills and also put money back in the pockets of hard-working Virginians. I’m proud to lead the fight to give Virginians a fair shake,” Jones said.
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Chris Graham
