Dominion promised $870 million for energy conservation. Now it’s walking back its commitment.
Tuesday, March 19th, 2019
Earlier this year, Dominion Energy committed to $870 million in proposed energy efficiency programs as part of their 2018 Grid Transformation and Securitization Act (GTSA). Stakeholders and Dominion representatives agreed that the company would develop and implement effective energy efficiency measures to help lower consumer bills and reduce demand on the overall system.
Now, Dominion is attempting to walk back its commitment. The company has claimed projected lost revenue equivalent to 45% of program costs —money Dominion “loses” because they’re not selling that value of electricity to ratepayers. They are requesting that the State Corporation Commission deduct the lost revenue from the original $870 million amount agreed upon and consider it partial fulfillment of their commitment.
VPLC strongly condemns Dominion’s surprise attempt to reduce its energy efficiency commitment. Dipping into the amount promised for energy efficiency programs violates the original agreement and severely impairs Virginians’ ability to lower relentlessly increasing costs.
The State Corporation Commission will consider Dominion’s request at a hearing on Wednesday, March 20th. VPLC advocates will be there to request that the Commission reject Dominion’s attempt to use projected lost revenue to evade its commitment to energy efficiency programs.
As an organization that represents those who can least afford to pay electric bills that, under the company’s proposal, would include costs for nothing tangible–no electricity and no energy efficiency measures–we are deeply concerned about Dominion’s true intent and their ability to deliver the benefits of the GTSA that were negotiated and expected in good faith. The company’s move to diminish its original commitment is an insult to stakeholders who sought to collaborate on legislation benefiting the community and to Virginian consumers.