Dominion Energy’s request for increase in rate of return on equity denied by state regulators

News

RICHMOND, Va. (WFXR) – The State Corporation Commission announced on Thursday that it had turned down the utility’s proposal to set an increased profit rate for shareholders.

The Commission approved a rate of 9.2 percent, an unchanged rate from the 10.75 percent that Dominion had requested.

The 9.2 percent rate was considered to be “fair and reasonable” by the Commission as well as being “consistent with the public interest.”

Clean Virginia, an environmental advocacy group as well as Attorney General Mark Herring had announced being opposed to the increase.

LATEST STORIES:

Get breaking news, weather, and sports delivered to your smartphone with the WFXR News app available on Apple and Android.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

News tips

Do you have a news tip or breaking news to share with WFXR?  Submit your tip here.

Latest News

More News

News Tip Form