Report: Regulators: Dominion’s rates produced $300 million extra

This article discusses how Dominion Energy is raking in the profits because the Virginia legislature is allowing them to gouge ratepayers.

State regulators say customers of Virginia’s largest electric monopoly paid more than $300 million in excessive rates last year.

A new report by the State Corporation Commission said Dominion Energy’s base rates produced a nearly 14 percent return on equity, a measurement of profitability, in 2017. The commission has ruled recently that a fair rate should be around 9 percent or 10 percent.

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