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Dominion Energy (D)
#1
I ran across this article talking about renewable energy, the costs to create the infrastructure, and how it will result in higher energy bills for consumers.

Dominion Energy proposes 40% rate hike in Virginia to pay for “net zero carbon”

I've heard that renewable energy will be a negative for utilities, but I tend to agree with the article that it will actually allow them to raise prices and make more money. Their rates are set based on costs, so the more they spend on infrastructure, the more they can charge customers.

The "Green New Deal" sounds great in theory, but the reality of physics and math is going to be a big surprise for a lot of people when their utility bills double.
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#2
(05-26-2020, 08:25 AM)EricL Wrote: I ran across this article talking about renewable energy, the costs to create the infrastructure, and how it will result in higher energy bills for consumers.

Dominion Energy proposes 40% rate hike in Virginia to pay for “net zero carbon”

I've heard that renewable energy will be a negative for utilities, but I tend to agree with the article that it will actually allow them to raise prices and make more money. Their rates are set based on costs, so the more they spend on infrastructure, the more they can charge customers.

The "Green New Deal" sounds great in theory, but the reality of physics and math is going to be a big surprise for a lot of people when their utility bills double.
I haven't read the article yet but I will.  I have not heard of this problem from the other major UTEs that are years ahead of D in the slow transition.  If they are forced to raise rates 40% it might just be time for me to find the exit on D.

EDIT: I see they are proposing 3% a year which may or may not be in line with inflation. The headline is a bit sensationalized.
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