SCC Approves Fuel Rate Increase for Dominion Energy
Published 6:07 pm Tuesday, September 20, 2022
The State Corporation Commission (SCC) approved an increase to the fuel rate for customers of Dominion Energy Virginia that includes a mitigation proposal that would spread the recovery of the $1.020 billion projected fuel deferral over three years.
The SCC also approved a stipulation under which Dominion Energy agreed to waive recovery of one-half of its incremental carrying costs arising from the three-year mitigation proposal, about $27.5 million.
The rate increase became effective on an interim basis, subject to further modification, on July 1, 2022. Dominion Energy Virginia is one of two utilities providing electric service to Suffolk.
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For a residential customer using 1,000 kilowatt-hours of electricity per month, it represented an increase to the average weighted monthly bill of $14.93.
The fuel rate is the portion of the electric bill that pays for the fuel used to generate electricity and costs associated with power purchased by the utility company to serve its customers.