Take Action: Dominion Energy requesting a significant profit increase

PEC joins with our partner organizations across the state in opposition to Dominion Energy’s request to increase their guaranteed profit from 9.2% to 10.8%. Dominion has long overcharged ratepayers, failed to aggressively pursue energy efficiency and stands as a constant barrier to increased adoption of customer-owned clean energy. And that’s before we get into their pursuit of costly, unnecessary infrastructure like the Atlantic Coast Pipeline. This monopoly should not be granted a larger profit-line at the expense of Virginia ratepayers. Take action with us by Oct. 22:

Overview of Dominion’s Rate Case

For the first time since the 2015 “rate freeze” legislation passed allowing Dominion Energy to keep hundreds of millions in customer overcharges, the State Corporation Commission (SCC) will fully review and potentially adjust what Dominion Energy customers pay for electricity. Through a regulatory process called the triennial review, also known as a rate case, the SCC will determine:

  • If and by how much the company has overcharged customers.
  • If refunds are due to customers.
  • The amount of profit Dominion should earn in future years. 
  • If there is going to be a rate increase or decrease.

In its filing, Dominion is requesting a significant profit increase from 9.2% to 10.8%. The SCC denied a similar request in 2019, a request the agency estimated would have cost Virginians $1.4 billion over 25 years.

Consumer protection advocates, environmental groups, the Office of Attorney General, and other stakeholders will challenge Dominion’s claims as part of the rate case proceedings. After studying evidence and testimony, the SCC will set Dominion’s base rate, which typically amounts to 60% of electricity bills. Although base rates should not exceed the utility’s costs of operating and a fair and reasonable profit, Dominion has overcharged customers by hundreds of millions every year, according to the SCC. Thanks to legislation supported by Dominion that heavily restricts the authority of the SCC, Dominion has consistently escaped rate decreases. 

Virginia is in the midst of an exciting energy transition. Our Commonwealth is making massive investments in clean energy and shuttering polluting fossil fuel plants. This year’s rate case is currently an optimal mechanism for regulators and lawmakers to ensure this clean energy transition is affordable for all Virginians. The SCC must ensure that electricity rates are reasonable and that Virginia’s electric utility monopolies, with captive customers and no competition, do not charge unfair prices.

Submit Public Comment to the SCC by Oct. 22

The public can participate in the 2021 Dominion Energy rate case by submitting comments to the SCC until October 22nd and can publicly testify in the evidentiary hearing by registering with your name and phone number until October 20th here (case number PUR-2021-00058).

Sign Clean Virginia’s petition and tell the SCC to deny Dominion’s request for a profit increase!