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Dominion won't seek base rate increase for 2 years

Thursday - 3/28/2013, 4:31pm  ET

RICHMOND, Va. (AP) -- Dominion Virginia Power says it's not asking state regulators to increase its base rates for its customers for at least two years.

The Richmond-based electric utility proposed holding the rate as part of a Thursday filing with the State Corporation Commission.

Base rates make up about 60 percent of a typical residential bill and can only be adjusted every two years. The total bill for a typical residential customer using 1,000 kilowatt-hours per month is about $107 and is only a couple of cents higher than it was in July 2008.

Dominion may still seek increases for the cost of fuel, constructing new plants or environmental compliance.

Regulators must rule on Dominion's filing by the end of November. Dominion is the state's largest electric company with about 2.3 million customers.


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