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Commission every six months for three years on its progress in controlling costs and managing prudently its fossil fuel operations.
—A special audit committeee of Commission staff will be established to review the periodic reports.
—Vepco’s semi-annual reports will be considered in each Vcpco rate proceeding for three years.
In addition, the Commission will “reward” Vepco through a negotiated sliding rate of return tied to generating unit performance.
Parties to the settlement have until July 13 to accept or reject the modified settlement.
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