Media Ignore VA Attorney General's Conflict Of Interest In Energy Proposal
Customers of Virginia's two big electric power companies likely will save hundreds of millions of dollars over the next 12 years under an agreement worked out between the state Attorney General's Office and the utilities.The proposal would repeal the state's bonuses for renewable energy programs and building fossil-fuel power plants. Attorney General Ken Cuccinelli said in a report in November that the bonuses have not produced intended environmental gains or encouraged power plant construction.
• expanding the financial performance limits defining when the companies "overearn" or "underearn" compared with their state-authorized rate of return; and• allowing utilities to recover the costs of catastrophic natural events and early power plant closings, because of new environmental rules or factors beyond the companies' control, during the biennial review period they occur for financial reporting purposes.
One contribution of note is the $50,000 given by Intrust Wealth Management, one of many corporations under the control of the billionaire industrialist Koch brothers. The company is a subsidiary of Intrust Bank, headed by Charles Koch. This is the second Koch contribution to Cuccinelli, who received $10,000 from Koch Industries in the first half of 2012.[...]Other large contributions came from Alpha Natural Resources ($10,000), Paul Atkins ($10,000), Thomas Brock ($10,000), Conservative Victory Committee ($15,000), Consol Energy ($25,000), Walter Morgan Curt ($10,000), Dominion PAC ($10,000), Stewart Hall ($10,000), Hilton Worldwide ($15,000), James Leininger ($10,000), Service Distributing Inc. ($10,000) and Verizon Good Government Club of Virginia ($25,000).