FERC gives Virginia Power the transmission incentives it sought, over numerous protests

摘要

The Federal Energy Regulatory Commission said last week it approved a request by Dominion Virginia Power for additional profits from 11 new transmission projects in the state, over the protests of several state agencies and two FERC commissioners. FERC said that on August 29 it approved the company's request for a 125-basis-point-adder to its return on equity for seven projects and a 150-basis-point-adder for four projects. The commission said the package of new transmission will cost about $1.2 billion to build and is due to be completed in 2012. Lodging protests against various aspects of the Virginia Power proposal were state agencies in Virginia, Pennsylvania, New Jersey, North Carolina, West Virginia and Delaware, and the District of Columbia. But FERC determined that the request meets the requirements of Order No. 679, which include that there be a "nexus" between the risks and challenges associated with the project and the granted incentives. FERC also said the major components of the proposal are associated with the PJM Interconnection's regional transmission expansion plan.