This bill is simple, clean, concise and protects Dominion and APCO customers. Dominion and Republicans have consistently argued that high electric bills (and Virginia's are some of the highest in the nation) are a result of landmark climate and clean energy legislation patroned and passed by Democratic legislators in 2020 the Virginia Clean Economy Act (VCEA) and the Regional Greenhouse Gas Initiative (RGGI). They use these false talking points to argue for repeal of the VCEA and RGGI. High bills, however, are the result of systematic overcharges by Dominion as well as other legislative loopholes carved out by Dominion and APCO.
Oppose SB1265, a bill drafted by Dominion, that seeks to substantially increase guaranteed profit margin to please Wall Street investors, retain special cost riders (rate adjustment clauses or RACs) and keep a huge chunk of customer overcharges. This bill will raise costs to all Virginians and fuels the false narrative proffered by Dominion and Republicans that the rise in costs result from climate legislation – the VCEA and RGGI.