Share “McDonnell signs Va utility regulation bill”

McDonnell signs Va utility regulation bill

Published on NewsOK Modified: February 22, 2013 at 7:41 am •  Published: February 22, 2013
Advertisement

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.


AROUND THE WEB

  1. 1
    Verdigris Public Schools student being treated for unconfirmed viral meningitis
  2. 2
    Escaped Vinita inmate caught in Oklahoma City, back in custody
  3. 3
    Demoted high-ranking Tulsa Sheriff's Office official has resigned, fourth to leave since Eric...
  4. 4
    Owasso man arrested after police find marijuana growing operation in his home
  5. 5
    Best sex education video ever, made by a Brit
+ show more

FEATURED JOBS



× Trending energy Article