Va. Regulators Want Utility Customers to Benefit From Tax Cut - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Va. Regulators Want Utility Customers to Benefit From Tax Cut

Posted: Jan 09, 2018 10:00 AM Updated:
(Photo: CBS) (Photo: CBS)

RICHMOND, Va. (AP)- State regulators say they want to make sure Virginia's utility customers benefit from a corporate tax cut signed into law last month.

The Virginia State Corporation Commission on Monday ordered electricity, gas and water utility companies to quantify the tax savings on their books.

Customers of Virginia's two large electric utilities will have to wait for the General Assembly to take action before they see any savings. In 2015, the legislature passed a controversial base-rate freeze for Dominion Energy Virginia and Appalachian Power.

Last month, the commission's staff told lawmakers that cutting the federal corporate income tax to 20 percent would save Dominion Energy Virginia about $165 million a year, and Appalachian Power, about $80 million. Congress passed a 21 percent tax rate.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Billy Graham's Legacy Remembered on Delmarva

    Billy Graham's Legacy Remembered on Delmarva

    Feb 21, 2018 3:43 PM2018-02-21 20:43:00 GMT
    Wednesday, February 21 2018 3:54 PM EST2018-02-21 20:54:58 GMT
    Billy Graham (Photo: AP)Billy Graham (Photo: AP)
    People on Delmarva are remembering the life and legacy of evangelist Billy Graham, who died early Wednesday morning at his home in North Carolina. He was 99.More
    People on Delmarva are remembering the life and legacy of evangelist Billy Graham, who died early Wednesday morning at his home in North Carolina. He was 99.More
  • Hogan, Democrat Introduce Bills Creating School Watchdogs

    Hogan, Democrat Introduce Bills Creating School Watchdogs

    Feb 21, 2018 3:45 PM2018-02-21 20:45:00 GMT
    Wednesday, February 21 2018 3:45 PM EST2018-02-21 20:45:55 GMT
    Prompted by alleged grade-fixing in Prince George's County Public Schools and perjury and theft allegations in the Baltimore area, a pair of bills in the General Assembly would establish investigative offices to oversee schools in Maryland.More
    Prompted by alleged grade-fixing in Prince George's County Public Schools and perjury and theft allegations in the Baltimore area, a pair of bills in the General Assembly would establish investigative offices to oversee schools in Maryland.
    More
  • Maryland Ponders Ways to Stabilize Health Insurance Markets

    Maryland Ponders Ways to Stabilize Health Insurance Markets

    Feb 21, 2018 2:43 PM2018-02-21 19:43:00 GMT
    Wednesday, February 21 2018 2:43 PM EST2018-02-21 19:43:35 GMT
    To help steady Maryland's struggling health care exchange, the state is considering steps some other states have taken to stabilize insurance markets: revive a sort of insurance for insurers.More
    To help steady Maryland's struggling health care exchange, the state is considering steps some other states have taken to stabilize insurance markets: revive a sort of insurance for insurers.More
  • Most Popular VideosMost Popular VideosMore>>

  • New Waterfront Hotel Breaks Ground in O.C., Part 2

    New Waterfront Hotel Breaks Ground in O.C., Part 2

    The location of a new waterfront hotel that recently broke ground in Ocean City is raising some eyebrows with neighbors in the downtown area.

    The Cambria Hotel is being built in the vacant lot that sits just north of the Route 50 drawbridge, meaning it will be one of the first things drivers see headed into town.

    Brian Plimack, who lives just behind the development, said the hotel is too much of a drastic change to the town's skyline.

    More

    The location of a new waterfront hotel that recently broke ground in Ocean City is raising some eyebrows with neighbors in the downtown area.

    The Cambria Hotel is being built in the vacant lot that sits just north of the Route 50 drawbridge, meaning it will be one of the first things drivers see headed into town.

    Brian Plimack, who lives just behind the development, said the hotel is too much of a drastic change to the town's skyline.

    More
  • Dover Police Announce Death of Officer

    Dover Police Announce Death of Officer

    The Dover Police Department says one of their own passed away yesterday. Corporal Thomas Hannon's death was a result of medical complications brought on after sustaining a leg injury in the line of duty in 2012.

    More

    The Dover Police Department says one of their own passed away yesterday. Corporal Thomas Hannon's death was a result of medical complications brought on after sustaining a leg injury in the line of duty in 2012.

    More
  • Crisfield Addiction Forum: Where Drugs Could Be Hiding At Home

    Crisfield Addiction Forum: Where Drugs Could Be Hiding At Home

Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices