Gov. Ralph Northam said Thursday he has “significant concerns” about utility-backed legislation to allow electric monopolies to continue charging rates that currently produce excessive yearly profits of hundreds of millions of dollars.
Northam said he wants state regulators to have greater oversight of utilities than what the legislation would allow. The Democratic governor also said he wants Dominion Energy and Appalachian Power to issue bigger refunds to their customers than what’s been proposed.
“I’m ready to work with all stakeholders on this issue, but I have significant concerns about the bill that is on the table,” Northam said in response to questions from The Associated Press.
