Dominion Power can lower fuel rates again

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By Carolyn Shapiro
The Virginian-Pilot
© September 26, 2009

State regulators have agreed to allow Dominion Virginia Power to lower its fuel rates for the second time this year.

Dominion first cut its fuel rate July 1, then proposed an additional decrease earlier this month to reflect reduced costs to run power plants. On Friday, the State Corporation Commission announced that Dominion can apply the new rate starting Oct. 1, though it is still reviewing the company's filing.

The new rate lowers the current bill for residential customers using 1,000 kilowatt-hours per month by $2.19, or about 2 percent. The monthly bill for those customers dropped $3.64 in July.

Known as the "fuel factor," that portion of the supply charges on Dominion's bills covers the company's costs to buy coal, oil, natural gas and uranium to run power plants. The two reductions this year, lasting until July 2010, amount to a decrease of almost $340 million in Dominion's projected annual fuel expense.

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Very funny...

Submitted by StraightForward on Sat, 09/26/2009 at 8:29 am.

Considering Dominion's "18% rate increase" caused my winter electric bills to skyrocket from $125 a month to $230 a month this past year... I hope that one day soon I will be able to afford a windmill or solar panels, but people like me are just those that a monopoly such as Dominion VA Power preys on. I have no money to fight back and there is no other power company to choose from. As such, I am a helpless victim of their greedy ways.

Va Power

Submitted by ronniew92627 on Sat, 09/26/2009 at 7:33 am.

is lowering there rates while Va Nat gas raises theirs.....ok no brainer to dump gas. Honest question....Can some one please explain to me why the Government has to allow them to lower their rates??