Virginia’s Dominion Energy customers will get $330 million in refunds due to a settlement. On Thursday, the Virginia State Corporation Commission (SCC) approved the settlement put forward in October, closing the agency’s triennial financial review of the utility. SCC staff found that the company may have overcharged customers as much as $1.1 billion, according to a September report. Dominion Energy can deduct some items from that before issuing refunds, including a $309 million Customer Credit Reinvestment Offset (CCRO) that allows reinvestment in offshore wind, solar, and grid transformation projects.
The settlement also includes a rate reduction that will reduce customers’ bills.Read More