…FAT GIVEAWAY TO THE STATE ENERGY MONOPOLY
Virginia’s House of Delegates passed an amendment to the bill yesterday which fixed one problem, but it’s still a huge giveaway. After mostly-Dems narrowly passed the amendment, Repugs then held another vote where it passed (again) 96-1, so they could be on the winning side. The vote on the bill itself, as amended, is expected today.
AFTER GAINS IN VIRGINIA, DEMOCRATS’ FIRST BIG MOVE IS A FAT GIVEAWAY TO THE STATE’S ENERGY MONOPOLY
HB 1558 and its identical Senate version SB 966 are on the verge of passingboth houses of the legislature. The legislation began as an effort to reverse a disastrous 2015 law that froze utility rates at exceedingly high levels, creating between $400 million to $800 million in overcharges just in 2015 and 2016. However, Dominion Energy, which has near-monopoly power in Virginia and substantial sway over its politics due to being the state’s largest corporate donor, was able to shape the bill to its liking.
Instead of rebating all overcharges back to customers, the bill would allow utilities to divert that money to investments in infrastructure, like modernizing the energy grid and increasing renewable power generation. Supporters are effectively dangling the promise of more renewable energy so that utilities can avoid having to use their own funds to build it, winning support from a few environmental groups in the process.
Lee Carter, a democratic socialist elected to the House of Delegates last year, denounced both the legislation itself and the process used to move it through the legislature. “As written, the bill is a steaming pile of garbage. You can quote me on that,” he told The Intercept in a phone interview.
@laadeedaava and other Virginia residents, please help stop this bill.GloriaMundi, Pastiche, DesertRat2015 and 6 othersdjean111, davidthegnome, , Enthusiast, mmonk, Marym625 like thisCubs, Google+, Weird Al, BMW
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