
The annual revenue required from Virginia customers to finance Dominion Energy Virginia’s offshore wind installation. It peaks at about $800 million in 2027, driving the amount to be collected on monthly bills. Source: SCC Testimony. Click for larger view.
by Steve Haner
If the project goes as planned, the consumer cost for Dominion Energy Virginia’s offshore wind installation will rapidly rise to a peak in 2027 and then descend annually over the following 20 years. If it produces power for 30 years, in the final phase the revenue related to the project will exceed the remaining capital costs.
What is this going to cost Dominion’s captive ratepayers? There is also a related but often ignored question: which of those customers did the Virginia General Assembly exempt from those costs, effectively bumping up the price to those not exempt? Continue reading