Customers of Dominion Energy and Appalachian Power might soon start seeing higher electric bills. That's because of a new law signed by Governor Glenn Youngkin that allows for utilities to make customers pay for the costs of developing nuclear power facilities – things like permitting, for example. The bill was introduced by Senator Dave Marsden of Fairfax County.
"Ratepayers could be responsible for $1.40 a month for up to five years in creating the funds necessary to get through the nuclear regulatory commission process, which is hugely expensive," Marsden says. "It takes four to five years."
Utility customers don't usually pay for things like development, and Josephus Allmond at the Southern Environmental Law Center says this poses a risk for ratepayers.
"The risk is that customers are footing the bill for this development several years, and if it doesn't come to fruition, then they've just spent $500 million or $125 million, depending on the utility you're talking about, going towards development of something that will never benefit them," Allmond explains.
The new law goes into effect July 1st, but utilities would need to have any plans approved by the State Corporation Commission. Meanwhile, the clock is ticking on the goal for Virginia to be emissions free by 2050, a benchmark laid out in the Virginia Clean Economy Act.
This report, provided by Virginia Public Radio, was made possible with support from the Virginia Education Association.
