RICHMOND, Va. (AP) - Regulators say legislation proposing a major rewrite of the Virginia's oversight of electric monopolies could result in billions of new charges "paid by customers in higher rates."
The State Corporation Commission sent a letter to lawmakers Wednesday contradicting many of the positions taken by supporters of the legislation, including Dominion Energy and Gov. Ralph Northam.
The SCC says customers will effectively pay twice for some types of spending by utilities if the legislation passes, which supporters dispute.
Dominion and Northam say the legislation is a needed to help spur new investment in clean energy, grid upgrades and energy efficiency programs. Northam's office said Wednesday that the state is far behind other states in these areas and needs to legislation in order to "get into the game quickly."