RICHMOND, Va., May 8, 2019 /PRNewswire/ -- Dominion Energy
residential customers in Virginia
can expect a one-time bill credit in June to return savings from
federal corporate income tax reform.
The typical residential customer using 1,000 kilowatt-hours per
month will see a credit of $33.27 next month, one of the largest in Dominion
Energy Virginia's history. Individual credits will depend on each
customer's historical energy usage.
This represents the third bill credit Dominion Energy customers
have received over the past year. Along with the three credits
totaling almost $71, the typical
residential customer also saw more than $3.78 in rate cuts related to federal corporate
income tax reform in the past year. The credits and rate reductions
carry out the requirements of the Grid Transformation and Security
Act of 2018, including its directive that the full savings of
federal tax reform be passed along to customers.
Dominion Energy's typical Virginia residential bill of $116.79 is 17 percent below the national average
and about 34 percent below the mid-Atlantic/northeastern states
average, according to a new report from Edison Electric
Institute.
Over the past 11 years, Dominion Energy has invested in new
infrastructure, sustainability initiatives, and renewable energy,
while residential bills have increased at an average rate of 0.9
percent annually, well below the rate of inflation.
"The June bill credit will help provide relief to our customers
as we enter the hot summer months," said Corynne Arnett, vice president of customer
service for Dominion Energy. "We have a long record of providing
reliable and reasonably priced energy to Virginians even as we make
significant new investments in renewable energy and critical
infrastructure."
The company today asked for State Corporation Commission
approval of two other rate changes later this summer.
The company proposed a reduction in its fuel rate, due to the
past year's lower than estimated fuel costs and mild weather. If
the request is approved, the typical residential monthly bill would
drop by $2.84 beginning July 1. The company does not make any profit on
the fuel charge. Customers only pay for the actual cost of
fuel.
The company also requested SCC permission to revise its
transmission rate, the portion of customer bills that supports the
development and maintenance of the company's high-voltage
transmission system. If the request is approved as filed, the
typical residential bill would increase by $6.71 on September
1. The adjustment reflects the ongoing expansion of the
company's transmission system, with investments of up to
$1 billion annually in recent years
to meet the growing needs of customers and ensure secure and
reliable service. A significant portion of the proposed increase is
also due to a retroactive change in the way the regional
transmission operator, PJM, allocates regional transmission
enhancement facility costs among its members.
More information about the company's electric rates can be found
on the Dominion Energy website at
www.dominionenergy.com/varates.
About Dominion Energy
Nearly 7.5 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 about $100
billion of assets providing electric generation, transmission
and distribution, as well as natural gas storage, transmission,
distribution and import/export services. The company expects to cut
generating fleet carbon dioxide emissions 80 percent by 2050 and
reduce methane emissions from its gas assets 50 percent by 2030.
Please visit DominionEnergy.com to learn more.
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SOURCE Dominion Energy