Dominion Virginia Power seeks fuel-rate increase

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Dominion Virginia Power is asking state regulators to approve a rate increase that would raise the average customer’s bill by $2.36.

The utility says the increase is needed because demand and fuel prices are expected to rise by July 2014.

If approved by the State Corporation Commission, the average Dominion customer would pay $110.75 per month, up from an average of $108.39 for 1,000-kilowatt hours. The increase would occur July 1.

In addition to increased fuel prices and customer demand,  Dominion said the fuel rate would cover one additional nuclear refueling outage in the next year compared to the previous year. Dominion’s nuclear power stations produce the least expensive electricity from its fuel sources so the replacement electricity sources needed during the refueling outages are typically more expensive.

Dominion customer bills are expected to go up 19 cents starting tomorrow to pay for energy efficiency programs. The company also has a $1.32 monthly rate increase pending before the SCC that would start Sept. 1. That would cover the proposed Brunswick County Power Station and transmission-related costs.

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