PRESS RELEASE: Virginia Ratepayer Protection Alliance Urges General Assembly to Oppose “Virginia Electric Utility Regulation Act”
Friday, January 20th, 2023
FOR IMMEDIATE RELEASE
Virginia Ratepayer Protection Alliance Urges General Assembly to Oppose “Virginia Electric Utility Regulation Act”
Utility-backed legislation is bad for ratepayers, erodes regulatory oversight
The Virginia Ratepayer Protection Alliance, an initiative launched in 2022 by the Virginia Poverty Law Center to advocate for millions of forgotten and over-charged ratepayers, has announced its opposition to HB1770 and SB1265.
According to a recent survey, approximately two-thirds of Virginians are choosing between paying their electricity bill and buying groceries. Legislators from both sides of the aisle and Governor Youngkin have rightfully pledged to ease the burden on Virginians by working to lower cost of living expenses during the 2023 General Assembly, including reigning in record-high energy costs.
The Virginia Ratepayer Protection Alliance has a very simple test for analyzing legislation: is this good for the ratepayer? The so-called Virginia Electric Utility Regulation Act fails that test spectacularly by eliminating customer choice and implementing a regulatory scheme that will result in increased earnings, continued over-charges, and minimal state oversight. In short, it’s a give-away to the large, monopoly utilities at the significant expense of all ratepayers.
“It’s sad, but not surprising that, in the same survey of Virginians, only 14% responded that they believe the General Assembly prioritizes ratepayers over the electric utility companies. The General Assembly and Governor Youngkin have an opportunity this session to show them that the status quo has changed – that ratepayers will be the priority in Richmond this year” said Carmen Bingham, Affordable Clean Energy (ACE) Project Coordinator for the Virginia Poverty Law Center.
The Virginia Ratepayer Protection Alliance strongly opposes HB1770 and SB1265, and urges the General Assembly to put ratepayers first.
For more information: