Dominion gets approval to charge customers again for carbon market participation
Despite Virginia’s pending withdrawal from a regional carbon market, residential Dominion customers will see an additional fee of roughly $4.44 on their monthly electric bills beginning Sept. 1 to cover the utility’s costs of participating in the market between July 31, 2022 and the end of this year.
The State Corporation Commission on July 12 approved a modified version of the company’s request to recover its costs for participation in the Regional Greenhouse Gas Initiative, or RGGI.
“The Commission notes its awareness of the economic pressures that are impacting all utility customers,” wrote the commission in its July 12 order allowing the fee to resume. “We are sensitive to the effects of rate increases, especially in times such as these. The Commission, however, must follow the laws applicable to this case, as well as the findings of fact supported by the evidence in the record. This is what we have done herein.”
Virginia is close to finalizing its withdrawal from RGGI following Republican Gov. Glenn Youngkin’s approval of a regulation repealing the state’s participation in the market. The regulation is set to be published in the Virginia Register July 31.
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