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Power bills to rise 18 percent starting next week
Increase takes effect next week to counter mounting fuel costs.
Date published: 6/27/2008
By LARRY O’DELL
Associated Press Writer
RICHMOND- The State Corporation Commission said Friday that Dominion Virginia Power can increase rates by about 18 percent to recover its soaring fuel costs.
After the increase takes effect Tuesday, a residential customer using 1,000 kilowatts of electricity per month will pay an additional 16.61 per month, the SCC said.
A company official told the three-member commission this week that Dominion has seen price increases of 95 percent for coal, 55 percent for oil and 290 percent for natural gas. State law allows the utility to recover fuel costs from its customers.
Large industrial customers, apartment complex owners, federal agencies and the state attorney general’s office, representing Virginia consumers, supported the 1.3 billion annual rate increase. Dominion deferred about 697 million in costs to hold the increase to 18 percent. Otherwise, it would have been about 22 percent.
The utility will have to file another case next year to begin collecting the deferred costs.
During the next year, Dominion expects to buy almost 600 million worth of fuel from its unregulated affiliates. To keep customers’ fuel rates as low as possible, the SCC ordered an audit to ensure that Dominion pays whichever is lower _ the affiliates’ actual cost of fuel, or the market price.
The commission also ordered Dominion to demonstrate that it is selling any excess power to other systems and that it is taking steps to minimize its costs of obtaining oil, natural gas and wholesale electricity.
Date published: 6/27/2008
Most recent reader comments:
imready, I'm on your side....sort of
(posted by
savedbygracealone
, July 2, 2008 8:36 am)
Dude, you need to lay off the energy drinks for a couple of days. You're not making a very good case for your arguement when you drop to the level of personal attacks so quickly. I've found that when debating hard line left wing liberals, all you need are solid facts. Liberals HATE facts. Back to the topic, my electric bill (REC) is about $150 - $175 a month, and I'm on all CFL's. I need a new fridge, water heater and A/C (about $15,000.00 total to replace). They would take 5 years to pay for themselves.
still have surge's and blackouts during storms even with underground lines. Not as common but they do happen. Surge's can come from the little cluster of electric buildings where the power is distributed to a number of different lines. If a surge comes down the line for any reason, it is usually traced back to there, then what? Your without power still.
Electric bill
(posted by
krasnyibog
, July 1, 2008 7:57 am)
My last Dominion bill showed that I used 217 kWh, so a $28 bill seems reasonable. Yes, I use A/C and watch television. I am happy with Dominion and am glad to pay more to have buried lines and reliable power that doesn't surge or blackout during storms.
It's all Bush's fault
(posted by
mikester
, June 30, 2008 1:15 pm)
It's all Bush's fault, he's responsible for everything else right?
I think Dominion is recouping the cost for burying the lines
(posted by
Dana1
, June 30, 2008 7:50 am)
This is what happens when our legislators force the private company into line burial . I always knew it was NOT going to cost .10 cents a month as Howell claimed. He knew it, too. Everyone can thank Towering Concerns for the new increase. By the way, who has an avergae monthly bill of 1,000kwh? Mine & my neighbors is at least double that. I am looking at about a $35 increase, more in winter. Who came out the winners in this? Homeowners along the easements. Their property values saved at our expense!
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