RICHMOND, Va. (AP) — Virginia's General Assembly is in the middle of a contentious fight over electric rates that could impact monthly utility bills for most businesses and residents.

A bipartisan group of lawmakers is set to unveil utility-backed legislation Thursday overhauling how the state regulates electric monopolies. The legislature is considering other regulation bills as well.

The end result could be one of the most impactful acts on Virginians' wallets the General Assembly makes this year.

Key questions will be whether customers of Dominion Energy and Appalachian Power get refunds and whether the State Corporation Commission will have a meaningful ability to lower rates going forward.