Dominion requests rate increase

3 August 2003

Dominion Energy has requested a 29% fuel rate increase for its Virginia electricity customers, because of the cost of replacing the reactor vessel heads at North Anna 1 and 2 and Surry 1.

Dominion said that it had spent $91 million to replace the output of the units while they were down for replacement activities, which exceeded a combined 250 days. Dominion also cited higher natural gas prices and extreme winter weather as reasons for the proposed rate increase.

Dominion is proposing a two-year recovery period, which would raise the fuel rate to 2.079¢/kWh, up from the current rate of 1.613¢/kWh. If a one-year recovery plan is adopted, the new rate would be 2.331¢/kWh.

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