The Ohio Public Utilities Commission (PUC) has proposed regulations to allow electric utilities to use fuel-cost clauses to recover gains or losses from trading Clean Air Act emission allowances....
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Virginia Investigates Holding Company Dispute
The Virginia State Corporation Commission (SCC) has directed Virginia Electric and Power Co., a subsidiary of Dominion Resources, Inc., to adopt conflict-of-interest standards to govern board of director membership. The SCC also directed the utility to file an annual independent audit of its affiliate transactions and to cooperate with commission staff in determining whether "Virginia Power is paying for duplicative executive services" from its holding company parent. The action grows out of an SCC investigation into a 1994 public dispute between the utility and Dominion Resources. Re Investigation of Dominion Resources, Inc. and Virginia Electric and Power Co., Case No. PUE940051, May 24, 1996 (Va.S.C.C.).
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