Virginia's utility regulation law could be costing the state's energy customers more than necessary, according to a report by Virginia Attorney General Ken Cuccinelli.
Customers of Virginia's two largest electric companies will pay over $1 billion more than necessary for new power plants and renewable energy programs under the 2007 law, the report finds. Cuccinelli's report says bonuses called "adders" allowed under the law cost customers of Dominion Virginia Power and Appalachian Power far too much for the benefits they produce.
The adders allow utilities a higher potential profit for meeting renewable energy goals and building new electric generation facilities. The utilities dispute the claims.