On the subject of electric reregulation (see previous post), it’s going to happen whether we like it or not. Last week Gov. Timothy M. Kaine implicitly endorsed the framework of the electric reregulation bill passed by the General Assembly, although he did amend it to promote conservation and renewable fuels. According to the Governor’s website, his amendments would:
- Give the State Corporation Commission more authority to consider keeping Virginia’s electricity costs competitive with other southeastern states when setting rates
- Double the conservation and efficiency goal for Virginia’s electric utilities
- Continue green-power tariffs for Virginia’s consumers and strengthen provisions for renewable energy use
- Create more incentives for clean electricity generation
- Provide faster refunds to utility customers
- Provide additional flexibility for industrial and commercial consumers to use competitive electricity providers.
Said Kaine: “My primary goals in amending this bill were to ensure that appropriate consumer protection measures were in place to keep Virginians’ electric rates among the lowest in the country, and to ensure that electric companies have incentives to conserve energy, produce cleaner energy, and take other steps to protect the environment.”
I agree with Kaine’s big themes and priorities. But, frankly, I haven’t had a chance to delve into the details of how he proposes to achieve them. I’m crossing my fingers and hoping these amendments constitute a genuine improvement to the original bill.
