Dominion-backed rates bill whittled down in House committee

By SARAH RANKIN
Associated Press

RICHMOND, Va. (AP) — Dominion Energy’s ongoing push for yet another year of legislative tinkering with the way its rates are regulated took a surprise turn this week. A Virginia House committee on Thursday whittled down a company-backed bill ratepayer advocates have fiercely opposed. The vote came after Gov. Glenn Youngkin’s administration weighed in publicly for the first time on the dispute, which has simmered since before this year’s legislative session officially kicked off. The measure initially contained provisions that effectively would have bumped up the company’s return on equity, a measure of profitability. Those pieces are now gone from the bill. A different Senate version is advancing. Lawmakers will eventually have to reconcile any differences.