Gov. Glenn Youngkin soon will consider two bills — HB1604 and HB1777 – aimed at providing relief for rising electric rates throughout Southwest and Southside Virginia.
Both bills passed the General Assembly this week, according to a release from Del. Wren Williams’ office. Williams, R-Stuart, supported both proposals.
HB1604 reforms how the State Corporation Commission regulates electricity rates and sets the profit limits that power companies are allowed to earn on electricity rates.
HB1777 shortens the Commission’s tri-annual evaluation schedule so rates are re-evaluated every year.
“Electricity rates have sky-rocketed and Southwest Virginians are struggling to afford their electric bills. I’ve heard from literally thousands of Virginians about how they’re suffering, from single moms and struggling families to retirees on a fixed income,” Williams said.