State approves Dominion rate increase

State approves Dominion rate increase

State approves Dominion rate increase

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Associated Press

Posted on June 27, 2013 at 6:22 PM

Updated Thursday, Jun 27 at 6:23 PM

RICHMOND  (AP) -- Dominion Virginia Power customers will pay more starting July 1.
 
The State Corporation Commission said Thursday that it has approved a new fuel rate requested by Virginia's largest utility.

The SCC says the monthly bill for a residential customer using 1,000 kilowatt-hours of electricity will increase by about $2.26, or about 2.2 percent.
 
The fuel rate is the portion of the electric bill that pays for the cost of fuel used to generate electricity.

Dominion is authorized by law to a dollar-for-dollar recovery but is not allowed to make a profit on the recovery of fuel expenses.
 
Dominion has about 2.3 million customers in Virginia.

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