Dominion Power 2007 Annual Report Download - page 23
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Dominion 2007 Annual Report 21
,
ur success rests on our ability to
continue providing reasonable customer rates and competitive shareholder returns.
Thanks to new laws governing electric utility regulation in Virginia and our commitment
to efficient operations, we believe we can balance the interests of both.
As of the beginning of 2008 our residential electric rates were about 15 percent
below the national average. Our industrial rates were the lowest on the East Coast.
Credit our employees who operate our businesses at high levels of efficiency
and excellence, as well as rate caps in place under Virginia’s decade-long experiment
with deregulation.
Virginia’s reregulation law—approved last year by the General Assembly and signed
by the governor—will help to minimize significant base rate increases while allowing
returns competitive with our electric utility peer groups. It also includes incentives to
provide excellent customer service, operating efficiency and investments in renewable
sources of generation.