Background for the Study
Capped rates: a major element of electric industry restructuring initiative.
- SCC-Dominion Virginia Power settlement, August 1998.
- Section 56-582, Virginia Electric Utility Restructuring Act
- Established capped base rates for each incumbent, expiring July 1, 2007.
- Designed to furnish safe haven of rate stability during market development.
In restructuring states, studies indicate significant consumer savings from price caps, standard offers.
In Virginia, questions have arisen from consumers, public officials about similar savings.
Dominion has commissioned CEA to perform study of residential customer savings.