| Energy giant Dominion Transmission Incorporated will roll back rates by $245 million dollars over the next five years to settle an earnings dispute with New York regulators.
The Clarksburg-based subsidiary began negotiating with the Public Service Commission of New York last fall after an analysis of the company's financial and operating data led the PSC to file an over-earnings complaint with the Federal Energy Regulatory Commission.
Dominion Transmission operates the world's largest underground natural gas storage system and maintains 10-thousand miles of pipeline in Maryland, New York, Ohio, Pennsylvania, Virginia and West Virginia.
Customers include utilities and power plants.
Federal regulators approved the settlement late last week.
Dominion employees just reached a work agreement through their union, claiming the company was drastically cutting their benefit package.
Details of the agreement have not been released.
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