RICHMOND, Va., Feb. 21, 2020 /PRNewswire/ -- Dominion
Energy customers in Virginia can
expect a nearly $6 decrease in their
monthly residential electric bills later this year under a proposed
fuel rate adjustment.
This fuel rate reduction is driven by the outstanding
performance of our generation fleet in Virginia, particularly our combined cycle
power stations which provided excellent reliability and
affordability to our customers while also reducing carbon emissions
by displacing coal. In addition, the company's rapidly increasing
renewable portfolio in the Commonwealth reduces both fuel costs and
carbon emissions.
"We remain focused on providing customers with reliable service,
increasingly clean energy and a great value for their energy
dollar," said Robert M. Blue,
president, Dominion Energy Virginia. "This proposed fuel reduction
shows we are running an efficient operation and providing excellent
service to our customers."
|
Fuel Rate
|
Total Bill
|
Current
|
$23.25
|
$122.07
|
Proposed
|
$17.26
|
$116.18
|
Change
|
-$5.89
(25.3%)
|
-$5.89
(4.8%)
|
Based on typical
1,000 kwh residential bill
|
Industrial customers will see an overall rate reduction of
around 10% under the proposal. The new rate will take effect
May 1 if approved by the State
Corporation Commission (SCC). No change can occur in company rates
without approval from the SCC.
The fuel charge comprises about 20 percent of a typical
residential bill. The company is not allowed to make any profit on
the fuel charge, so customers only pay for the actual cost of power
station fuels.
Base rates comprise about 60 percent of a typical residential
bill. With the proposed fuel rate changes, the company's electric
rates continue to be well below national, state and regional
averages.
Dominion Energy recently committed to net-zero carbon emissions
across its 18-state footprint by 2050. The company is developing
the largest offshore wind project in America and is the 4th largest
owner of solar energy in the country among utility holding
companies.
About Dominion Energy
More than 7 million customers in
18 states energize their homes and businesses with electricity
or natural gas from Dominion Energy (NYSE: D), headquartered
in Richmond, Va. The company is committed to sustainable,
reliable, affordable and safe energy and is one of the
nation's largest producers and transporters of energy with more
than $100 billion of assets providing electric
generation, transmission and distribution, as well as natural gas
storage, transmission, distribution and import/export services. The
company is committed to achieve net zero carbon dioxide and methane
emissions from its power generation and gas infrastructure
operations by 2050. Please visit DominionEnergy.com to
learn more.
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SOURCE Dominion Energy