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A private investigation of allegations that the Virginia Electric and Power Company’s operation and maintenance of its fossil-fired units may have resulted in unnecessarily high rates for its wholesale customers would be terminated under a settlement agreement approved by the Commission.
The Commission has given conditional approval to the settlement agreement. If the agreement is also approved by the other involved parties, the two-year old investigation as well as several other rate and complaint proceedings involving Vepco would be resolved. Commission staff had concurred with an earlier settlement offer except for a provision that would terminate the investigation proceedings. Staff had argued that approval of the settlement “would allow the investigation to be emasculated. . . ” and result in a waste of a tremendous amount of time and effort.” “In its investigation report to the Commission, staff indicated "that Vepco may have incurred unreasonable fuel costs between 1975 and
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