Local Digest
Local Digest
|
TOOLBOX
   Resize
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
Who's Blogging  |
ENERGY
Dominion agrees to $400 million refund
Virginia's largest electric utility agreed to a proposed settlement Thursday to return nearly $400 million to customers and reduce monthly electric bills.
The settlement, subject to regulatory approval, would reduce by $5, to $103.83, the typical monthly residential bill from Dominion Virginia Power. The company sought a base rate increase that would have raised a monthly bill to $116.27.
The settlement provides that Dominion return to ratepayers at least $268 million in what the state describes as excess 2008 earnings and $129 million in fuel revenue. Under the agreement, customers would realize a return of the $268 million through a one-time credit and monthly bill adjustments of $56 through 2010.
Customers would also get a refund of approximately $21 million per month that they have paid under an interim rate increase approved on Sept. 1.
-- Associated Press
CONTRACTING
General Dynamics makes British bid
General Dynamics and BAE Systems said they submitted their bids to the British Defense Ministry to supply about 600 armored vehicles for the British Army in Afghanistan.
Falls Church-based General Dynamics, the maker of Abrams battle tanks, entered a version of its European-made ASCOD SV tank equipped with a Lockheed Martin turret, the company's British unit said in an e-mailed statement. BAE, Europe's biggest defense company, offered its CV90 vehicle with a chassis produced by its Hagglunds subsidiary in Sweden, Mike Sweeney, a spokesman for the London-based company, said by telephone.
Britain has said it plans to award the contract by the beginning of next year.
-- Bloomberg News
