RICHMOND, Va. (AP) — A Virginia state senator who is the chief sponsor of legislation that would loosen state oversight of Dominion Virginia Power’s rate setting has sold his shares in the company.
Virginia Beach Republican Sen. Frank Wagner told The Associated Press that he sold his shares Tuesday because he didn’t want there to be any suggestion that he was trying to personally profit with his legislation.
Wagner’s actions came a day after the AP reported that several lawmakers own stock in the state’s dominant electric utility but have not abstained on votes friendly to the company.
Wagner is trying to shepherd through legislation that would proponents say will help Dominion from having to prematurely close several coal-powered plants because of proposed federal carbon-emission limits.
Opponents say the bill hurts consumers.
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