August 13, 2022

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The Power of Success

Dominion filing kicks off to start with economical critique in yrs | Newest Headlines

RICHMOND, Va. (AP) — Dominion Vitality Virginia acquired $26 million in excessive income in the previous four yrs and is in search of to reinvest that income in its offshore wind pilot project, the company stated in a submitting with regulators this 7 days.

The electric utility’s submitting with the Condition Corporation Commission marked the opening stage of its first full financial critique considering that 2015.

Dominion will be opening up its textbooks for a months-extended assessment of its fiscal situation and whether or not adjustments to customers’ foundation prices, which account for a very little about fifty percent of a normal customer’s bill, are needed.

The assessment will include 2017 through 2020. Dominion reported that right after accounting for much more than $200 million in pandemic-related credit card debt forgiveness, foundation level revenues all through that period “incredibly carefully matched the $12.5 billion value to provide provider,” with only about $26 million in excessive. The organization wants to sink that into its Coastal Virginia Offshore Wind pilot venture fairly than refund it to consumers.

The business also wants an maximize in its allowable gain, from 9.2 percent to 10.8 {1c85f339815b3f699ae0fdee90a747b715d9a8e52ec31221581a933b2596fac0}.

The fee has a 9-month window to perform its assessment and concern a final ruling. Intrigued parties like environmental and buyer interest groups will have the probability to weigh in.

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