R.I.P: Virginia’s Electric Power Deregulation A story recently appeared in the Richmond Times Dispatch titled “SCC rejects plants' transfer. Plan is too risky, Virginia Power told” If electricity deregulation runs into the same problems experienced in California, you can take it to the bank that this was one of the prime reasons. The oh-so-wise State Corporation Commission has denied Dominion Virginia Power the ability to put its power plants into the hands of one of its subsidiaries. The news story is full of references by state officials to the "public interest."  But here's the best quote: "We find that it will create too much uncertainty, too much risk and provide too little benefits, if any.” I love it when government officials look out for the "public interest" by denying corporations the right to engage in uncertainty and risk.  But fear not, the SCC says that Dominion may be allowed to run its business as it sees fit "when conditions are such that that the public interest in safe, reliable electric service will not be jeopardized by the transfers."