RICHMOND, Va., Sept. 30, 2019 /PRNewswire/ -- Dominion Energy's
Virginia customers can expect more
reliable service, new tools to manage energy usage, and greater
access to clean energy sources under a new proposal filed with the
State Corporation Commission (SCC) today. The proposal outlines
expanded details of the first three years of implementation of the
company's 10-year plan to transform the state's energy grid.
With SCC approval, the initiative will enhance service to
customers through implementation of new technologies and a series
of new programs developed with input from stakeholders and
customers over the past several months. The initiative comes as the
company continues its rapid progress toward a clean energy future
and amid Governor Northam's call for Virginia's electric sector to fully
decarbonize by 2050. Dominion Energy has embraced that challenge,
continuing to expand its growing solar and offshore wind
portfolio.
The proposal calls for approximately $594
million in investments through 2021. Those investments
include a new customer information platform, which allows customers
to digitally manage their energy usage, and installation of nearly
one million smart meters, which would more than triple the number
currently deployed. Pending subsequent SCC approvals, the company
would achieve full smart meter deployment in its Virginia service area by 2024.
Customers will see no rate increase for costs associated with
deployment of the new customer information platform and smart
meters installed through 2021, which represents approximately half
of the initial three-year investment package, because the company
plans to reinvest funds under the provisions of the Grid
Transformation and Security Act of 2018 (GTSA).
The SCC previously approved investments, under the GTSA, for
improvements in cyber and physical security, and
telecommunications.
"Our initiative is the next step in creating a clean energy
future in Virginia," said
Ed Baine, Senior Vice President –
Electric Distribution. "This will help customers for years to come,
with more resilient service, greater value and a partnership that
helps to protect the environment for the next generation."
According to a cost-benefit analysis performed by West Monroe
Partners, a business consulting firm, the investments will provide
a range of customer benefits, including fewer power outages and
flexible rate options to meet customer lifestyles. The analysis
concluded that the planned investments deliver significant benefit
to all customers across a wide range of areas, while also driving
reductions in greenhouse gas emissions, increase in new jobs and
economic growth in the Commonwealth, and savings to electric
vehicle owners.
Customer benefits of the proposal include:
- More Control and Convenience – Smart meters will
give customers more information and tools to better manage their
energy use and bills. Customers will be able to save money through
new options like timely usage insights and energy efficiency
programs.
The meters allow customers to receive alerts that warn of potential
high bills, and notifications will let you know if power goes out
and when it is restored. It will also be easier to start or stop
service when customers move.
- More Reliable Service – Customers can expect fewer
outages caused by weather and other events due to stronger, more
secure and resilient infrastructure and new technology, such as
digital intelligent devices and automated control systems that help
manage the flow of energy more efficiently across the distribution
system.
Installation of thousands of smart devices on the grid will prevent
some customer outages and automatically report others. The devices
will help isolate outages when they do occur and reroute power so
that fewer customers are impacted. They also help crews pinpoint
the source of outages, speeding restoration.
- More Adaptable to Clean Energy – A smart grid is
designed to maximize the benefits of renewable energy generation,
whether the energy is produced by offshore wind or from solar
panels at customer homes. Proposed upgrades will accommodate
two-way flow of power, allowing excess energy produced at customer
homes to be delivered back to the wider grid.
- More Electric Vehicles – Proposed investments will
accelerate development of more environment-friendly transportation.
Among other things, new pilot programs would support rideshare
electrification and electric vehicle (EV) charging at multi-family
communities, workplaces, transit bus depots and fast-charging
locations. Incentives and new programs will help customers make
decisions on how and where to charge an EV and still save
money.
For more information, visit DominionEnergy.com/smartenergy.
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 www.DominionEnergy.com to learn more.
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SOURCE Dominion Energy