Dominion Energy's Virginia customers will see their power bills drop next month, thanks to grid modernization efforts and the utility’s growing renewable energy portfolio. With an average annual bill of $1,406.40, Dominion customers can anticipate their bill to go down to $1,386.72, that is a yearly savings of $19.68. The reduction brings rates to lower than they were since 2015 and maintains average monthly power bills that are below state, regional and national levels.
The utility said that it's now reduced the costs of transmission by $2.07 per 1,000 kiowatt hours, allowing it to pass $1.55 per 1,000 kilowatt hours in savings to its customers.The Virginia State Corporation Commission approved Dominion's rate change effective Sept. 1, 2017.
With a net decrease of 1.1 percent, an average residential bill for Dominion Energy customers is 7 percent below the Virginia average, over 29 percent below bills on the East Coast of the US, and almost 16 percent below the national average.
"When it comes to household expenses we know every penny counts, which is why we always strive to provide reliable energy at the best value to our customers," said Charlene Whitfield, vice-president of customer service for Dominion Energy. "We're proud of our ability to keep rates stable while still providing great service, excellent reliability and increasing our investment in renewable energy."
Dominion Energy has increased the capacity of its renewable energy portfolio, while keeping rates for residential customers stable in Virginia. The utility is investing $1 billion to install 500 megawatts of utility-scale solar projects throughout the Commonwealth by 2020. Additionally, corporations, like Amazon, and government agencies have financed approximately 80 percent of the development and construction costs of installing 398 of the 500 megawatts without raising customer’s monthly rates.
Dominion Energy currently has 27 utility-scale solar projects under development and operational, totaling 444 megawatts across Virginia. The utility also announced plans to develop more than 2 gigawatts of wind capacity in the first stage of its Coastal Virginia Offshore Wind Initiative. In its 2017 Integrated Resource Plan, the utility said it plans on adding a total of 5,200 megawatts of solar throughout its national service area over the next 25 years.Tweet