$147 million. That is how much energy bills will increase throughout Virginia if Dominion gets its way and pockets money that belongs to Virginians.
Dominion Energy asked the State Corporation Commission (SCC) to increase its profit level, or return on equity, to 10.75% from its current 9.2%. Dominion already earns a much higher rate of return on its investments than it would in a competitive market. If Dominion gets its way with this increase, the utility monopoly would collect an additional $147 million each year from Virginians already paying some of the highest energy bills in the country.
The U.S. Navy called this latest request from Dominion “excessive and unwarranted,” joining Walmart, Virginia’s Attorney General, and low-income advocacy groups in opposing the profit increase.
We have to flood the SCC with public comments opposing the increase before they hold a hearing on Dominion’s request in September.
STEP 2: Scroll to Case PUR-2019-00050 and click on “submit comments”
STEP 3: Fill out the required information and include a comment opposing Dominion’s 10.75% return on equity increase (a sample comment is included below).
Don’t forget — adding a personal message helps! State regulators rarely hear from people most impacted by a potential rate increase. Instead, they hear from the executives who will rake in the excess profits. Adding your voice is critical to protecting Virginia from the greed of Dominion’s top executives.
SAMPLE SCC COMMENT:
I’m opposed to Dominion Energy’s request for a 10.75% rate of return on equity. If approved, this rate hike could increase energy bills in Virginia by $147 million. This increase does not even include additional fee and rate changes that will already add more than $30 a month to energy bills in the next four years. Virginia law already allows Dominion to keep excess profits of at least $350 million per year. This rate increase is unjust to everyday Virginians.
RAISE YOUR VOICE ON SOCIAL MEDIA:
Sample Social Media Posts:
Dominion’s latest profit grab is outrageous, and we have to stop it. Tell the SCC to stop Dominion’s 10.75% Return on Equity! tinyurl.com/tellthescc
If Dominion gets its way, our energy bills will increase even more than already projected. Submit a comment to the SCC ASAP opposing Dominion’s request for an extreme profit increase. tinyurl.com/tellthescc
Virginia already pays the 11th highest bills in the nation, and our bills will increase even more if Dominion’s demand for a profit increase passes. The SCC needs to hear from everyday Virginians who cannot afford another bill increase. tinyurl.com/tellthescc