RICHMOND, Va. (AP) _ A bill that reduces state ratemaking oversight of Virginia’s two largest electric utilities is headed to Democratic Gov. Terry McAuliffe’s desk. The House of Delegates approved legislation Thursday that proponents say will prevent potential rate increases due to looming federal environmental rules. Opponents say the legislation may lead to higher-than-necessary electric bills. The legislation prohibits the State Corporation Commission from reviewing base rates of Dominion Virginia Power and Appalachian Power for several years. During the rate review freeze, the SCC will not be able to order rate rebates or reductions if the utilities make excessive profits, not will utilities be able to raise their base rates. McAuliffe has not said whether he will sign or veto the bill.
