| For Immediate Release |
Contact: Dave Nutter |
| February 24, 2010 |
Phone: (804)698-1007 |
Suspension of APCo Interim Rate Increase Becomes Law
RICHMOND - Delegate Dave Nutter applauded the actions by Governor McDonnell today in signing emergency legislation (HB 1308) that immediately suspends Appalachian Power Company’s interim rate increase.
“I was pleased to join with the Governor and my fellow legislators in southwest Virginia to enact this important piece of legislation which will help reduce power rates on the citizens of southwest Virginia and opens the door for a new look at how the General Assembly allows investor owned utilities to recover costs,” Nutter said.
The Christiansburg legislator went on to say that in his tenure in the House of Delegates, he has consistently opposed legislation in 2004 and 2007 that established under law the right of power companies a “guaranteed rate of return.” These bills also allowed electric utilities to recover the cost of construction from rate payers before the first kilowatt is produced.
“I took to the floor of the House last week to urge every member of the House to join with Southwest legislators to find a long term solution into how our electric utilities are managed. I was pleased that Governor McDonnell has agreed to convene a group to find an answer to our problems,” said Nutter.
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