Dive Summary:
- The General Assembly's Commission on Electric Utility Regulation in Virginia received a briefing Thursday after some of the states largest power companies reached an agreement with Attorney General Ken Cuccinelli's office over renewable energy incentives.
- Dominion Virginia Power and Appalachian Power participated in the talks, which followed an attorney general's office report last year indicated that incentives provided by a 2007 law were not achieving desired results.
- The new deal would keep reduced incentives for nuclear and offshore wind but get rid of bonuses referred to as "adders," which are given for renewable energy use and building fossil fuel power plants.
From the article:
"... The General Assembly's Commission on Electric Utility Regulation was briefed Thursday in Richmond on an agreement between Attorney General Ken Cuccinelli's office, Dominion Virginia Power and Appalachian Power on the part of a 2007 law that allows utilities to receive financial incentives for using renewable energy. Dominion Virginia is a unit of Dominion Resources Inc. and Appalachian Power is a unit of American Electric Power Co. ..."
