THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Wednesday, August 2, 1995 TAG: 9508020528
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
SOURCE: (Staff)
LENGTH: Short : 21 lines
Newport News Shipbuilding has signed one of the first real-time electricity pricing deals with Virginia Power. The giant Peninsula shipyard will pay an hourly rate for its electricity based on availability and cost of generation. Hourly prices for power will be set 24 hours in advance, allowing the yard to plan its power consumption and reduce its annual $15 million electric bill by about $1 million. The yard is one of 25 Virginia Power customers eligible for real-time pricing, which was approved in April by the State Corporation Commission to help make the state more competitive in economic development. by CNB