For Virginians – Dominion says rates set to increase 34% by 2030

by | News

Look for electric rates to rise faster than they were set to already, in response to bills enacted by the 2020 General Assembly, Dominion Energy Virginia says in a letter to legislators accompanying copies of its latest long-term plan.

The 296-page Integrated Resource Plan filed Friday with the State Corporation Commission marks a major shift towards net-zero carbon production.

Covering the cost of those directives — which include retiring plants that produce carbon dioxide, reducing energy use and joining a regional cap-and-trade system — will boost customers’ bills by 3% a year over the next decade, Dominion said. That translates to bills that would be 34% higher than current levels in 2030, or about $2.94 a month higher than they’d otherwise be, a Daily Press analysis shows.
 
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