Dominion Energy made $277 million dollars more in profit than considered “appropriate” by regulators – and due laws recently passed, Dominion will be able to keep this money. This is money that could be used to lower customer’s energy costs or be used to fund the aggressive shift away from fossil fuels needed to forestall the climate emergency. Instead, the climate-change deniers at Dominion Energy will be able to use the money as they see fit.
This all could change, though. If Arlington municipalized its electrical utility, voters would have control over what was done with the money. We could use it to make our electricity grid more resilient, subsidize rooftop solar and home efficiency improvements, or build our own solar or wind farms.
- Washington Post: Regulators: Dominion’s profits $277 million too high
- Clean Virginia: Dominion Rakes in $277.3 Million in Overearnings and Will Increase Annual Bills by Nearly $400