By Steve Haner

On its face the executive order President Donald Trump signed to bring a halt to future offshore wind turbines on federal ocean leases did not target the Virginia project underway.ย Dominion Energy Virginia is reporting it has all the federal permits it needs and will continue pushing toward its late 2026 completion date for Coastal Virginia Offshore Wind (CVOW).
A brave face and soothing reassurance are not enough.ย The reality is the project is in jeopardy.ย The EO calls upon the new federal bureaucracy to hunt for an excuse to cancel even the leases or permits for projects already underway, โidentifying any legal bases for such removal,โ and present those options to Trump.
Because of the Virginia Clean Economy Act (VCEA) and its mandates to generate renewable energy credits or pay financial penalties, the cost of a cancellation is even higher than most realize. This is one more reason for Virginia to retreat from this unachievable law.
It has been previously explained that under the traditional rules for monopoly utilities, any costs incurred for a cancelled project of this nature could fall totally on the ratepayers. The Virginia State Corporation Commission (SCC) has approved this project with its $9.8 billion price tag (not including financing). Having gotten that approval, the utility is entitled to recover its costs. The potential stranded costs a year ago were $4 billion and must be far more now.
A residential customer using 1,000 kilowatt hours of power is already paying $8.63 a month to build the plant and Dominion has an application pending to raise that to over $11 starting in July. That routine update on the project could become the forum for a debate on its future. If nothing else, the total of the potential stranded costs could be determined.
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