RICHMOND, Va. — Dominion Energy is proposing a reduction in their fuel rate that would result in a decrease in your monthly electric bill.
The adjustment comes after Dominion officials found that their combined cycle power stations were performing nominally. Also, an increase in renewable energy in Virginia contributes to the reduction in fuel costs and carbon emissions.
Industrial customers will notice an overall rate reduction of around 10% under the proposed fuel rate change.
If the rate adjustment is approved by the State Corporation Commission, it will take effect on May 1.
The fuel charge makes up about 20 percent of a typical monthly bill for residential customers. Dominion Energy doesn't make money off the fuel charge, but customers only pay for the actual coast of power station fuels.
Dominion has committed to net-zero carbon emissions across its entire footprint by 2050. The company is developing the largest offshore wind project in America.