Dominion Energy agrees to smaller rate increase ahead of public hearing

COLUMBIA, S.C. (WIS) - Ahead of public hearings being held this week, multiple groups announced that a settlement had been reached with Dominion Energy that would lower the company's proposed rate increase.

Coastal Conservation League, Southern Alliance for Clean Energy and Vote Solar, all of whom are represented by the Southern Environmental Law Center, said that the settlement would reduce the average residential rate increase from $19.98 to $11.97 a month.

The settlement would also give $6 million in shareholder funds to help customers, with $3 million going to a one-time bill credit for residential customers and $3 million over three years for extended customer bill assistance. It would also allow customers who use solar panels to continue to lower their bills.

"In the face of so much uncertainty and expected cost increases, now is the time to use all the tools available to ensure families are protected from rising costs," Jake Duncan, senior southeast regulatory director at Vote Solar, said in a statement. "This settlement helps offset the worst of the proposed rate increase by providing direct relief to residential customers, funding for low-income weatherization, and protecting customers' ability to invest in solar to provide long-term stability for their households."

Dominion Energy provided a statement to WIS regarding the settlement, via Media Relations Director Rhonda Maree O'Banion:

"Dominion Energy's customers and other stakeholders voiced their concerns, and we listened. The Public Service Commission's approval of the settlement agreements would solidify an accomplishment that all parties can be proud of as we maintain excellent operational performance customers count on every day, keep our rates in South Carolina below the national average and provide even more financial assistance for customers."