Is the “Refund Freeze” going to thaw?
Friday, December 29th, 2017
After two years of defending rate freeze, Dominion says it’s ‘time to transition away’ from the controversial 2015 law So, victory may be at hand in the bipartisan effort to repeal this law. However, we still expect a difficult fight ahead of us to have those excessive profits returned to Virginia’s energy consumers. A recent State Corporation Commission report estimates the overearnings amount to be $326 million to date. We expect a continued fight to steer excessive fees to consumers instead of allowing the money to go towards project costs that should be shared with Dominion’s stockholders, not funded solely by Dominion’s customers without going through the regular SCC review and cost allocation process.
As our recent report pointed out, there are several different rates and charges on your energy bill so it can be difficult to figure out what you are being charged and why. It also makes it easier for energy company lobbyists to confuse the public and legislators alike with complicated legislation, hiding whether consumer or stockholders are getting the benefit of the monopolies profits.
Our Affordable Energy Project will continue to be engaged in the legislative process at the General Assembly and the regulatory process at the State Corporation Commission to make sure low-income consumers voices are heard. Stay tuned….
New VPLC Study Released: The Myth of Virginia’s Rate Utopia