Company points to renewables as a long-term shield against volatility
Dominion customers could see their monthly bill rise by between 12 and 20 percent due to rising fuel costs linked to the COVID-19 pandemic, inflation and the ongoing war in Ukraine, according to company filings with the State Corporation Commission Thursday.
The electric utility, Virginia’s largest, is asking state regulators to approve an increase in its fuel factor, the rate levied on customers to cover the costs of purchasing fuel for power plants.
Depending on whether the SCC opts to spread the costs over one, two or three years — all options Dominion has outlined in its application, noting a preference for the three-year paydown — the fuel hikes could increase the average residential customer’s monthly bill by $24.12, $17.23 or $14.93, respectively.
“We know it’s a difficult ask,” said Dominion spokesperson Craig Carper. “Our focus has been on how do we make this the lowest number possible?”
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