RICHMOND, Va. (WFXR) – The State Corporation Commission announced on Thursday that it had turned down the utility’s proposal to set an increased profit rate for shareholders.
The Commission approved a rate of 9.2 percent, an unchanged rate from the 10.75 percent that Dominion had requested.
The 9.2 percent rate was considered to be “fair and reasonable” by the Commission as well as being “consistent with the public interest.”
Clean Virginia, an environmental advocacy group as well as Attorney General Mark Herring had announced being opposed to the increase.
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