Bill to restrict Dominion pipeline costs
RICHMOND, Va. (AP) — Legislation that could pose a serious threat to the bottom line of Dominion Energy’s planned Atlantic Coast Pipeline continues to advance in the Virginia General Assembly.
The bill passed a key House committee Thursday with bipartisan support despite heavy lobbying by Dominion.
The legislation would add new restrictions on Dominion’s ability to pass along costs of transporting gas from the ACP to its Virginia-based power stations. That could reduce the potential revenues of a project whose costs have already ballooned in the face of fierce opposition from environmentalists and land owners.
Dominion said the legislation is unneeded and regulators can already protect customers from unreasonable costs.
The energy company is among the most powerful forces at the General Assembly and rarely sees legislation it dislikes become law.