The Virginia State Corporation Commission has approved a resolution of electric rates that will save Dominion Virginia Power customers $726 million.
Customers will also receive a refund for higher base rates that have been in effect since Sept. 1 and refunds for two rate adjustment clauses.
An average customer using 1,00 kilowatt-hours each month will pay $99.07 per month instead of $108.36 that current customers pay, a savings of $9.29 each month. The
An average residential customer will receive $153 in bill reductions, including $80 over the next nine months and $32 in 2011 and 2012. The order also includes a reduction in transmission rider charges over eight years that will total $41.
The plan keeps Dominion’s base rate the same through Dec. 1. 2013, although fuel and other rates could change.
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