Dominion Rate Increase

[reeltight]

Wasn't one of the promises for Dominion buying SCEG that they wouldn't increase rates for a period of time? What was the time period specified?

Got a notice in the mail to participate in online discussion with Dominion as they ask state congress for a rate increase. They claim their cost have gone up, I believe they also say something about NG cost. I didn't read it closely as I was a little baffled about even getting the letter.

Who else got a letter? Who knows the ins and outs of this?

[reeltight]

By Laurel Mallory | August 18, 2020 at 4:05 PM EDT - Updated August 18 at 8:51 PM
COLUMBIA, S.C. (WIS) - Dominion Energy has requested a rate hike that the company says is the first in eight years.

The proposed increase is 7.75% for electric customers.

A typical customer using 1,000 kilowatt-hours of electricity a month would see a bill increase of $9.68 per month on average, according to the company. That would make their bill about $131.99 each month.

While the rate increase has been requested, it would not go into effect until March 2021, if it’s approved. A public hearing on the request is planned for January 2021.

“The company’s need to increase rates at this time reflects the continued investment in assets and operating resources required to serve an expanding customer base; maintain the safety, reliability and efficiency of its system;and meet increasingly stringent reliability, security and environmental requirements,” Dominion said in a news release.

Dominion says since its last rate increase, the company has invested $3.2 billion in projects as follows:

more than $2.1 billion in expansions and improvement to its electric transmission and distribution system
approximately $878 million in upgrades and environmental controls for its electric generation stations
about $198 million in technology and equipment to better serve its customers and enhance system security
The proposed rate increase is smaller than it could have been, Dominion says, because it has reduced operating costs by more than $45 million a year since the January 2019 merger.

[Calibogue]

I got the same..... Fuk em

[Silentweapon338]

The camel got its nose under the tent!

[FishSticker]

That "time" is up....

They agreed to freeze base rates until 1 January '21... They filed for rate increase with the PSC probably 5 - 6 months ago. The 3 yr rebate portion of the deal still runs through Jan of '22 and personally has worked out much better than the thousand-dollar check everybody was groaning over. My bill went from $375 down to about $240.

[reeltight]

They sure don't waste any time. Interesting to see how the rate increase is planned for as soon as time expires. It will be interesting to see if the rate increase is approved.

[FishSticker]

They sure don't waste any time. Interesting to see how the rate increase is planned for as soon as time expires. It will be interesting to see if the rate increase is approved.

Not that I want a rate increase, but it would be poor business practices if they didn't....the side of me that owns their stock appreciates the dividends and the 30% increase from purchase price from 2 years ago.

And you can count on the rate increase being approved....as I understand it, they did not apply for the full increase as allowed by law.

[ReelHard]

Got the same letter yesterday...... lining pockets...