SCC Reports $277 Million in Excess Dominion Earnings

Dominion Energy Virginia made $277 million in excess profits last year, according to a just-released State Corporation Commission report. Instead of returning the excess earnings to rate payers, the utility will apply those funds toward construction of a demonstration wind-turbine project off the coast of Virginia Beach and upgrades to smart meters in concert with its sweeping overhaul of the electric grid.

You can read the Richmond Times-Dispatch account here, and the Daily News account here.

Normally, Steve would write about the latest report about Dominion over-earnings, but he’s on vacation. And I’ll be out of the office all day. So, I’ll just throw open the topic to general discussion in the comments.