Ballard Announces Passage of APCo Rate Reduction Act

Jason Ballard
Jason Ballard speaks in Pulaski recently. (Mike Williams/The Patriot)
RICHMOND – On February 22, the Virginia General Assembly passed Delegate Jason Ballard’s (R-Giles) HB 2621, known as the “APCo Rate Reduction Act.” HB 2621 passed on a vote of 98-0 in the House of Delegates and 39-0 in the Senate of Virginia.

Said Del. Ballard, “This legislation will provide the most significant electric bill relief to APCo customers in years.  For too long, my constituents – and those throughout APCo territory – have suffered through unreasonably high electric bills that put people in the unwinnable position between paying their electric bill or putting food on the table.”

Ballard continued, “I give my sincere thanks to the entire Southwest Delegation of General Assembly members who helped get this bill across the finish line. HB 2621 is the only bill that provides meaningful financial relief for our constituents who are APCo customers.”

The APCo Rate Reduction Act includes several mechanisms that will provide APCo customers support.  First, HB 2621 allows for securitization, which will provide relief on each customer’s monthly bill.  There is a six-month moratorium on interest and late fees, as well as a nine-month moratorium on disconnect and reconnect fees, which will assist those among us who have the least means to pay.  Importantly, there will be no increase in electric rates during the winter months (November through February).  Similarly, APCo must propose seasonal rates which are meant to minimize the impact of cold winter months and high electricity usage. APCo must propose alternatives to current billing practices, which are designed to lessen the burden of high monthly bills during peak seasons.  And finally, HB 2621 directs the State Corporation Commission to consider public input and comments during all rate cases.

Ballard concluded, “This was a heavy lift during a short legislative session.  However, doing nothing was not an option.  I appreciate every constituent who shared their story with my office – this is how to get things done in Richmond.”

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