July Sees First of Two Energy Rate Hikes
Within days of gaining state regulator approval to hike rates over two years, Dominion Virginia Power enacted the first increase. As of July 1, Dominion raised rates $4.86 for every 1,000 kilowatt hours of electricity per month.
The second rate hike will begin in July 2012 and will raise rates another $3.31 per month. The Virginian-Pilot reports the fuel rate was requested by Dominion to cover the rising costs of buying coal, natural gas and uranium that power plants use to generate electricity. To read more about the rate hike, click here.
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