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Dominion unit seeking electric rate increase in North Carolina

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Essential Energy Insights - January 2021


Dominion unit seeking electric rate increase in North Carolina

Dominion North Carolina Power sought regulatory approvalMarch 31 to increase its base rates. The 6.5% net increase in residential billswill help the Dominion ResourcesInc. subsidiary recover costs to add the and gas-fired powerstations to its portfolio.

The Warren County project went in December 2014, while theBrunswick County facility is scheduled to begin operations in May.

Dominion also plans to recover costs of improving its NorthCarolina transmission and distribution system. The company has invested $272million to improve its operations since 2013 and has a further $243 millionplanned through 2019.

Pending North Carolina Utilities Commission approval,residential bills could go up to $112.68 per month from $105.83 starting Jan.1, 2017, on consumption of 1,000 kWh of electricity, according to a March 31statement. "Over the last four years, Dominion has made significantinvestments in generation, transmission and distribution infrastructure andtoday we are requesting a necessary increase to reflect the increased cost of servingcustomers," Dominion North Carolina Power President Robert Blue said.

Dominion North Carolina Power is legally known as