According to the Richmond Times-Dispatch, Gov. Kaine has amended but not vetoed the Dominion Virginia Power "re-regulation" bill. As you know, many here at Raising Kaine - as well as groups such as the Virginia Conservation Network, Piedmont Environmental Council, the Northern Virginia Regional Commission, AARP Virginia, etc. - had been urging Gov. Kaine to veto or heavily amend the bill. The Times-Dispatch reports that Gov. Kaine's amendments will:*"include new incentives for constructing renewable sources of power generation such as solar, wind or hydro power plants and for facilities to capture carbon emitted by fossil-fuel burning plants"
*"raise from 5 percent to 10 percent a goal in the legislation's for energy efficiency efforts"
*"make several changes to a section that provides incentives to utilities to add renewable energy to their generation mix"
Those appear to be positive changes, but I'll have to study this more closely before I decide whether it takes the bill from the "absolutely awful" category to "acceptable."
From the language in the RTD story and in Gov. Kaine's own press release, the added renewable energy language consists of "goals" and "incentives" -- not mandates. It sounds like the decision about whether to use a watt of renewable power is still up to Dominion to decide.
And the cost of adding renewable sources will be borne solely by consumers, not large industrial or commercial electricity users.
It also sounds like the State Corporation Commission remains a neutered watchdog, with only slightly more leeway under these amendments to regulate Dominion's profits and rates.
According to WBDJ7 in Roanoke, "Dominion...was pleased with Kaine's actions." Well, of course it is, as it retains its unchecked monopoly on Virginia's power -- both electric and political.
The worst in all of this is that there is apparently no party that represents the people of Virginia. Only 3 Democrats in the Senate voted against the Dominion hybrid "regulation" bills (hb3068 & sb1416). And no Democrats in the House voted against.
Honestly, I think the state should ban political contributions and gifts from companies and industries that the state regulates. I would certainly be open to other ideas that would prevent regulatory capture. But I think Dominion's heavy spending on state politics bought them exactly what they wanted. I really think we should demand that Democratic candidates return their Dominion contributions. How can you act in the interest of your constituents on these matters when Dominion paid for a $5000 fundraiser for you or they gave you $3000 in cash?
On a side note, did anyone else see that Dominion moved their annual meeting to Boston? Wow, they really are focusing on the Northeast these days between this and their proposed transmission line to run electricity up the Northeast corridor.
It appears Dominion is doing all they can to avoid the backlash, courtesy of protestors and angry shareholders by making it more difficult to attend the meeting. Also, there is no reason to keep cost in check, since they are one of the most profitable utility companies in the nation with a net income of $1.81 billion in 2006. So they can afford to travel to Boston to discuss how to further pollute our environment and not encourage conservation and energy efficiency at the expense of Dominion customers.
Let's keep contacting Dominion's Board members until they drop this horrible and irresponsible proposal.
Thanks for the update Lowell and we had to give you all some well deserved credit over at Daily Kos for the great coverage.