Richmond, Va. (Newsradiowrva.com) - Dominion, regulators, and the Attorney General's Office have all agreed to a settlement over the power company's rates. The settlement comes days before Dominion's rate case was supposed to come in front of the State Corporation Commission. It had been alleged Dominion made a billion dollars above fair profit in the most recent rate review period.
Under the settlement, Dominion customers would see an average refund of about $67. Rates would also be lowered. Dominion would be allowed a greater rate of return, but not as large a percentage as they had been requesting.
The SCC still needs to sign off on the deal. The Commission has until January but could move earlier.
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