Dominion Energy files proposal for upgrade of Virginia electric grid
Dominion Energy filed a proposal Monday with Virginia’s State Corporation Commission (SCC) that outlines details of the first three years of the company’s 10-year plan to upgrade the state’s energy grid.
The proposal includes approximately $594 million in investments through 2021 in a new customer information platform, the installation of around 1 million smart meters and other improvements. Pending subsequent SCC approvals, Dominion expects to achieve full smart meter deployment in its Virginia service area by 2024.
The deployment of the customer information platform and smart meter installed through 2021 will not require a rate increase because the company plans to reinvest funds under the provisions of the Grid Transformation and Security Act of 2018 (GTSA).
“Our initiative is the next step in creating a clean energy future in Virginia,” Ed Baine, senior vice president of electric distribution for Dominion Energy, said. “This will help customers for years to come, with more resilient service, greater value, and a partnership that helps to protect the environment for the next generation.”
According to a cost-benefit analysis by West Monroe Partners, the customer benefits of the investments will include fewer power outages and flexible rate options. The planned investments are also expected to reduce greenhouse gas emissions, provide savings to electric vehicle owners, and support job and economic growth.
