Dominion Energy lowers proposed rate increase ahead of state hearing

Dominion Energy lowers proposed rate increase ahead of state hearing

The company now wants to lower its requested rate hike from about $20 a month to nearly $12

COLUMBIA, S.C. — Dominion Energy says it is lowering how much customers could pay extra each month just days before a public hearing on a proposed rate hike.

The updated proposal comes after months of negotiations between Dominion, state regulators, and environmental advocacy groups. Under the revised plan, Dominion is now asking to increase the average customer's bill by about $12 a month, down from roughly $20.

The company also announced a $6 million customer assistance plan that includes bill credits and support for low-income households.

The deal still must be approved by the Public Service Commission (PSC) at their May 12 meeting.

In a statement, Dominion Energy said customers and other stakeholders "voiced their concerns, and we listened."

"The comprehensive settlement agreements among Dominion Energy South Carolina, Office of Regulatory Staff and all intervenors are the result of several months of good faith negotiation by all parties," said Rhonda O'Bannion, Director of Media Relations for Dominion Energy South Carolina. "If approved by the PSC after a hearing starting May 12, the proposed settlements would allow Dominion Energy to recover the rising costs of investments needed to provide electric service to an expanding customer base at the level of excellent operational performance customers count on every day while also listening to concerns of customers and other stakeholders."

Eddy Moore, Decarbonization Director with the Southern Alliance for Clean Energy said Moore said the agreement could also help limit future increases. "By lowering this one, the key number in future rate increases is lower."

Moore added rate increases by companies typically are made every two to four years in South Carolina.

Laronda Carson, a Columbia resident, said she hopes to see a difference. "We all have talked about how our bills have gone up," Carson said.

The Southern Environmental Law Center says the deal would help fund weatherization for low-income homes, helping customers lower energy bills over time while also preserving benefits for solar customers.

The South Carolina Public Service Commission will decide whether to approve the agreement after a hearing Tuesday, May 12 at 10am at the commission's headquarters on 101 Executive Center Drive.