Dominion Virginia Power makes its case today for an 18 percent rise in electric bills to cover the soaring cost of the coal, natural gas and oil it burns in its generating plants to make power.
The company will argue for the increase -- and its customers will have a chance to air their views -- before the State Corporation Commission.
The hearing begins at 10 a.m. in the second-floor hearing room at the commission's offices at 1300 E. Main St.
The increase would boost the monthly bill of an average residential customer using 1,000 kilowatt-hours a month from $90.59 to $107.20. If approved by the commission, it would take effect July 1.
Dominion Virginia Power expects its fuel bill for the next 12 months to total about $2.6 billion, roughly double what it collects through the fuel charges its customers pay.
Last year, ending a 3½-year freeze of fuel charges, state regulators approved a $219 million increase.
But that fell nearly $700 million short of what the company actually spent, so part of today's hearing will focus on how and when the company can recover those costs. -- David Ress
Email
Facebook
Google
Twitter
Favorites
More
Advertisement