RICHMOND — A temporary cut in Appalachian Power Co. rates moved a step closer to reality Wednesday when the House of Delegates voted 93-0 for Senate legislation that would return the cost of electricity to its November level.
The Senate measure is identical to a House version of the legislation. Both measures would halt the power company’s practice of collecting rate increases before the State Corporation Commission approves them.
The rate cut could become official later this week with signatures from Gov. Bob McDonnell, Lt. Gov. Bill Bolling and House Speaker William Howell.
For people with electric bills in the $400-$500 range, the cut could amount to roughly $50. The reduced rate is expected to apply only until August, and in warmer months the savings for customers could be as little as $15.
August is when the SCC has tentatively agreed to have made a decision on APCo’s application for a rate increase that it filed last summer.
Under current law, APCo was allowed to begin collecting that rate increase in December. It coincided with the onset of cold weather that caused residential heat pumps to run constantly.
The result, in addition to bills $100 or more higher than normal, was an onslaught of complaints to legislators.
Although nine pieces of legislation were filed in the General Assembly this year, the House and Senate have approved just one of them.
Initially, APCo agreed to forego only its collection of its most recent rate increase. Legislators changed the measure so it applies to all interim rate increases by investor-owned utilities — including Dominion Power, the state’s largest utility.
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