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No joke! April 1 means lower power bills for Dominion customers

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RICHMOND, Va. -- On April 1, lower Dominion Virginia Power rates go into effect across the Commonwealth. The State Corporation Commission issued orders in five cases involving rate reviews and changes requested by Dominion Virginia Power.  The rate factor is typically adjusted in July but this year, the State Corporation Commission approved Dominion's request in March.

The combined impact will lower the average monthly bill of a typical customer using 1,000 kilowatt hours of electricity by $6.47 from $115.95 to $109.48.  That makes for a  5.6 percent reduction. The price of power will be very close to what it was in 2008.

Most of the April reduction stems from a decrease in Dominion's fuel factor, the portion of customer rates used to recover the cost of the fuel used at Dominion power stations. The lower rate also includes the write-off of $85 million in unrecoverable fuel expenses Dominion had at of the end of 2014.  Dominion Power said this write-off was required by Senate Bill 1349, passed by the 2015 General Assembly.

The next bill customers receive from Dominion Power will be based on new, lower rate.