Miyares, Dominion Energy Tout Potential New Deal over Offshore Wind Project Costs

Dominion Energy, the Office of the Attorney General, and other stakeholders have announced a tentative settlement agreement over how the utility will pay for the Coastal Virginia Offshore Wind (CVOW) Project. The agreement, which still needs approval from the State Corporation Commission, would allow the utility to bill some cost overruns in the project to consumers, but sets a cap along with some protections for the utility’s shareholders who would otherwise bear the burden. Attorney General Jason Miyares said that’s a win for consumers, and the utility said the agreement balances financial impacts.

“I am pleased that we have achieved consumer protections never seen before in modern Virginia history,” Miyares said in a press release. “For the first time Dominion has significant skin in the game to ensure that the project is delivered on budget. Should the project run materially over budget, it will come out of Dominion’s pocket, not consumers’. If approved by the State Corporation Commission [SCC], this agreement provides first-of-its-kind protections for Virginia consumers. A wide range of stakeholders support this agreement. I especially want to thank the Sierra Club and Appalachian Voices for joining, as well as Virginia’s largest private employer, Walmart. This landmark agreement means that Virginia will be a national leader in offshore renewable energy for years to come and most importantly in a fiscally responsible way.”

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Conservative Think Tanks Exploring Litigation Against Coastal Virginia Offshore Wind Project

A group of conservative organizations and think tanks announced that they’re exploring litigation related to Virginia’s Offshore Wind Project over concerns that the project could harm endangered North Atlantic right whales.

“Unless BOEM [Bureau of Ocean Energy Management] requires extensive, effective, unprecedented protection measures for the North Atlantic right whale immediately, this species is almost certainly headed toward extinction,” American Coalition for Ocean Protection [ACOP] President David Stevenson said in a press release from the Heartland Institute. “With only a little more than 300 individual right whales alive today, this endangered species is in dire need of protection, and the Virginia Wind Project lies directly in their annual migration path. The project will require extensive daily maintenance by multiple service ships, and the potential for whale fatalities due to ship strikes is indisputable.”

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Virginia Regulator Approves Coastal Virginia Offshore Wind Project

The Virginia State Corporation Commission approved applications from Dominion Energy for its proposed Coastal Virginia Offshore Wind Project to feature 176 wind turbines 27 miles off Virginia’s coast, although the project still needs federal approvals.

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