SCC approves Dominion fuel rate increase

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Associated Press

Posted on June 27, 2013 at 3:00 PM

Updated Thursday, Jun 27 at 3:00 PM

RICHMOND, Va. (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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