Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: TUESDAY, January 24, 1995 TAG: 9501250040
SECTION: BUSINESS PAGE: B8 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
RICHMOND - Virginia Power has overcharged its customers by $11 million for fuel during the past several years, the State Corporation Commission staff reported Monday.
The findings came out of an SCC investigation into a Virginia Power-CSX Transportation coal-hauling contract in 1991.
Excessive charges amounted to $8.3 million for Virginia customers, the SCC said.
The report called upon Virginia Power to refund money to customers who have been overcharged and adjust its rates until the contract expires in the year 2000.
The SCC investigation began this past summer, following a public dispute between the management of Virginia Power and its corporate parent, Dominion Resources Inc.
During the dispute, Virginia Power charged DRI officials with pressuring them into renegotiating the contract, although CSX Transportation refused to disclose the actual costs associated with Virginia Power coal movements.
Virginia Power officials said DRI forced them to consider factors that would pass future cost increases experienced by the railroad company to Virginia Power customers.
- Associated Press
Electric co-ops refund $7 million
RICHMOND - Virginia's electric cooperatives returned more than $7 million to their member-owners last year, according to the Virginia, Maryland and Delaware Association of Electric Cooperatives.
Through November 1994, 12 cooperatives had returned $7.74 million to their customers in refunds, also called capital credits or member equity.
Cooperatives issuing refunds in 1994 included Craig-Botetourt in New Castle and Central Virginia in Lovingston.
Virginia's 13 electric cooperatives provide power to more than 325,000 consumers in 68 of the state's 95 counties.
- Associated Press
by CNB