Dominion Energy Virginia proposes rate case to state commission

Published on November 16, 2023 by Dave Kovaleski

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Dominion Energy Virginia submitted a proposed settlement for its biennial rate case to the State Corporation Commission of Virginia.

The settlement was developed in partnership with commission staff, the Office of the Attorney General, and multiple other intervening parties. It seeks to strike a balance between stakeholders’ interests and resolves the ongoing biennial review.

“I am pleased that the Commission Staff, the Attorney General, and other key parties were able to come together constructively and propose a resolution to our biennial review here in Virginia that is fair and reasonable and will allow Dominion Energy to continue delivering on our mission to provide reliable, affordable, and increasingly clean energy to power our customers every day,” Ed Baine, president-Dominion Energy Virginia, said.

The settlement confirms that no change to the company’s base rates is appropriate for the upcoming 2024-2025 biennial period. Further, it said that overall customer rates remain 16 percent below national and 22 percent below regional averages.

Also, it said that base rate earnings for 2021-2022 were within the authorized earnings band. In addition, it calls for $15 million in one-time credits to customer bills by Sept. 30, 2024.

In addition to the groups mentioned, the agreement is joined by Appalachian Voices, the Data Center Coalition, the Department of the Navy on behalf of the Federal Executive Agencies, Google, Harris Teeter, the Virginia Committee for Fair Utility Rates, and Walmart. In addition, the Apartment and Office Building Association of Metropolitan Washington, Direct Energy, Microsoft, and the Virginia Poverty Law Center.

A final decision by the commission on the submission is expected in early 2024.