Well that certainly makes me want to conserve more so Dominion can have profits off of gas I don't even use.Dominion East Ohio Gas Co. said today it will seek a 4 percent rate increase within 30 days that would drive up average residential bills $4.50 a month and guarantee revenues per customer even if consumers use less gas.
The utility said it would argue to the Public Utilities Commission of Ohio that it makes money only on delivery charges, not on the sale of the gas. Higher gas prices, consumer conservation efforts and warm weather have cut gas consumption -- reducing the utility's profits.
The request to the PUCO will therefore include a provision to keep the utility's overall revenues per customer the same even if consumers dial back the thermostat, or add extra insulation.
Dominion also wants to install automated gas meters in the homes and businesses of all 1.2 million customers, as the PUCO suggested last year, eliminating every-other-month estimates. It did not say who would pay for the new meters.
The utility also announced its rate hike request would include more money for customer conservation programs, for which it now budgets $3.5 million per year. The programs are aimed at lower-income families.
As with any rate increase case, the request would require public hearings, and the company does not anticipate winning the increase until next year.
Dominion's last rate increase was in 1994.
I really hate monopolies...