State lawmakers will vote this week on a bill that would allow Dominion Virginia Power to play accounting games that protect their bottom line.
Senate Bill 459 and the House Companion HB1059 will allow Dominion to write off the majority of $570 million dollars spent between 2007 and 2013 studying the feasibility of a third nuclear reactor at the North Anna station in Louisa County.
Without this legislation, Dominion wouldn't otherwise have an opportunity to recoup those costs until it begins to actually build the new reactor.
What is the effect on every Dominion customer paying their utility bills in Virginia? This legislation will keep electricity rates higher than they ought to be, because ratepayers are now subsidizing research on a new nuclear reactor that will probably never even be constructed. North Anna 3 would sit on the same site where North Anna 1 and 2 were shut down by the earthquake in nearby Mineral, Virginia in August 2011-- just thirteen miles from the epicenter!
Contact your Virginia Senator and Delegate today!
We’re not fooled by accounting gimmicks that protect monopoly utilities, and they shouldn’t be, either.
Dominion's utility rates are set by the State Corporation Commission, who balance utility operations costs and Dominion’s profit margin when setting the cost of electricity for consumers.
The SCC Commissioners will actually order Dominion to refund customers at the bi-annual review period if Dominion’s profits are too high. Virginia consumers were on track to receive refunds in 2015, until this bill swept the General Assembly by storm.
Seventy percent of the $570 million dollars in nuclear research will be deducted from Dominion’s profits in 2013 and 2014 if SB459/ HB1059 passes the General Assembly.
Contact your Virginia Senator and Delegate today!
Tell them that you oppose accounting gimmicks that strong-arm the State Corporation Commission and limit regulatory authority on Dominion’s monopoly.
Click here for this: https://secure.sierraclub.org/site/Advocacy?cmd=display&page=UserAction&id=12978#.UwpwM1MXNS8.facebook
or
Please send your Reps and the Governor a message.
NO to a 3rd nuclear reactor ~ We need safe renewable energy sources NOW!!!
Click here for contact look up info:
*http://
*https://
*http://www.senate.gov/
*http://www.house.gov/
*https://www.dom.com/
Please write everyone personally plus call them:
Click here to ask the Governor to veto the bill:
http://org2.salsalabs.com/o/5502/p/dia/action3/common/public/?action_KEY=16721
or use the Governor's web site:
https://governor.virginia.gov/about/contact-us
Del Les Adams
DelLAdams@house.virginia.gov
Thomas C. Wright Jr.,
DelTWright@house.virginia.gov
Danny Marshall:
DDMarshall@house.virginia.gov
(804) 698-1014
Bill Stanley:
district20
(804) 698-7520
Frank Ruff:
(804) 698-7515
Delegate James E. Edmunds, II
Senator Thomas A. Garrett Jr.
Email: district22@senate.virginia.gov
Phone: (804) 698-7522
Fax: (804) 698-7651
Phone: (804) 698-7522
Fax: (804) 698-7651
I alter the email to list what is below
Vote NO on SB459 / HB1059
Hi,
I am writing to you to ask that you oppose SB459 and HB1059. Senate Bill 459 and the House Companion HB1059 will allow Dominion to write off 70 percent of $570 million dollars spent between 2007 and 2013 studying the feasibility of a third nuclear reactor at the North Anna station in Louisa County.
Without this legislation, Dominion wouldn't otherwise have an opportunity to recoup those costs until it begins to build the new reactor.
Furthermore, these bills interfere with the State Corporation Commission's ability to determine what if any refunds should go to ratepayers at the 2015 rate case.
Last year, the Commission reviewed Dominion's 2011 and 2012 earnings and determined it was earning just below its authorized rate of return.
The commission also forecast that Dominion's current rates would allow it to collect $280 million more than it should.
If the SCC's estimate of the company's earnings continues to hold true for the 2013-14 rate review period, the company could have to refund much of those possible over-collections back to customers.
But being allowed to write off North Anna development expenses reduces the chance of such refunds--and protects Dominion's bottom line.
Please vote no on SB459 and HB1059.
An accounting gimmick that protects a monopoly's profits against the interest of consumers is no way to set utility policy that impacts rate adjustments. Legislation impacting utility rates should be referred to the State Corporation Commission for analysis and public comment.
Sincerely,
More info about the problems of charging tax on power plants not built:
State Rep. Dwight Dudley continues push for repeal of 'utility tax' for ...
www.tampabay.com/news/.../state...tax...new.../216340...
Jan 30, 2014 - Dwight Dudley continued his campaign Thursday to repeal a state law that allows utilities to charge customers for new nuclear power plants
Stop Nuclear Tax
stopnucleartax.com/
br /> PSC Approves another $43 million more for Florida's nuclear tax, even after Duke ... formerly Progress Energy, has been charging customers for new reactors at ... Former Republican State Senator Mike Fasano voted FOR the legislation in
Stephen Smith: Nuclear reactor tax puts unfair risk on customers ...
articles.sun-sentinel.com/.../news/fl-sscol-oped1130-20121...
Sun-Sentinel
Nov 30, 2012 - A misguided state law that allows big power companies to shift costs and financial risk to customers for new nuclear power generation is the
repeal cwip - NUCLEAR WATCH SOUTH
www.nonukesyall.org/stop_CWIP.html
The statewide corporate nuclear tax (CWIP) forces consumers to become investors ... a wide market and the nuclear electricity may be sold to other states and not Georgia. ... that the people do not want to pay a forced tax to build new reactors.
UPDATE 1-Finnish nuclear plant delayed again as Areva, TVO bicker
Reuters UK - 2 days ago
br /> Areva blasts influence of lawyers, Finnish regulation ... to estimate a start date for its long-delayed Olkiluoto 3 nuclear reactor as the utility and,
Georgia Power: Nuclear plant expansion over budget - Atlanta ...
www.bizjournals.com/.../news/.../georgia-power-nuclear-plant-expansion..
Feb 28, 2013 - The first American nuclear power plant project in more than two decades ... a better deal for customers by $4 billion over the life of the plant than any ... will be offset by federal production tax credits Congress passed in ,
"Speaking in Defense of Ourselves" - Georgia Residents Oppose the Nuclear Tax for Plant Vogtle ► 12:18► 12:18 www.youtube.com/watch?v=OK...Stop Plant Vogtle Atlanta, a group comprised of local activists, non-profits ,
Warren Buffett Shelves Plans To Build A Modular Nuclear Plant
Warren Buffett's MidAmerican Energy utility developer is shelving plans to build a nuclear plant in Iowa, the Des Moines register's Perry Beeman and William Petroski report. The modular design of the plant was deemed too experimental Local politics also played a factor. Until last year, no new nuclear reactors had been approved in the U.S. since 1978.
Read more: http://www.businessinsider.com/warren-buffett-just-shelved-plans-to-build-a-nuclear-plant-2013-6#ixzz2uwFHFt27,
Stories of Failed Nuclear Agenda and Taxes:
State Rep. Dwight Dudley continues push for repeal of 'utility tax' for ...
www.tampabay.com/news/.../state...tax...new.../216340...
Jan 30, 2014 - Dwight Dudley continued his campaign Thursday to repeal a state law that allows utilities to charge customers for new nuclear power plants
Stop Nuclear Tax
stopnucleartax.com/
View shared post
PSC Approves another $43 million more for Florida's nuclear tax, even after Duke ... formerly Progress Energy, has been charging customers for new reactors at ... Former Republican State Senator Mike Fasano voted FOR the legislation in
Stephen Smith: Nuclear reactor tax puts unfair risk on customers ...
articles.sun-sentinel.com/.../news/fl-sscol-oped1130-20121...
Sun-Sentinel
Nov 30, 2012 - A misguided state law that allows big power companies to shift costs and financial risk to customers for new nuclear power generation is the
repeal cwip - NUCLEAR WATCH SOUTH
www.nonukesyall.org/stop_CWIP.html
iew shared post
The statewide corporate nuclear tax (CWIP) forces consumers to become investors ... a wide market and the nuclear electricity may be sold to other states and not Georgia. ... that the people do not want to pay a forced tax to build new reactors.
UPDATE 1-Finnish nuclear plant delayed again as Areva, TVO bicker
Reuters UK - 2 days ago
Areva blasts influence of lawyers, Finnish regulation ... to estimate a start date for its long-delayed Olkiluoto 3 nuclear reactor as the utility and
Georgia Power: Nuclear plant expansion over budget - Atlanta ...
www.bizjournals.com/.../news/.../georgia-power-nuclear-plant-expansion...
Feb 28, 2013 - The first American nuclear power plant project in more than two decades ... a better deal for customers by $4 billion over the life of the plant than any ... will be offset by federal production tax credits Congress passed in 2005 to
"Speaking in Defense of Ourselves" - Georgia Residents Oppose the Nuclear Tax for Plant Vogtle
► 12:18► 12:18
www.youtube.com/watch?v=OK...
View shared post...
Nov 29, 2012 - Uploaded by vincenz0h
Stop Plant Vogtle Atlanta, a group comprised of local activists, non-profits ... to refrain from approving any more
2/20/2014 @ 1:13PM 4,172 views
