Thursday, August 4 2022

COLUMBIA, SC (AP) — Dominion Energy is seeking a rate increase for its South Carolina customers.

After its annual review of the costs Dominion incurred for transporting and purchasing fuel, the company said it found that it was about $142 million undercharged in fuel costs.

This month, customers were notified that Dominion had filed for a rate increase, WLTX-TV reported Monday. If the company’s fuel request is approved as submitted, the monthly bill for a residential customer using 1,000 kilowatt hours of electricity would increase by approximately 5.19%, or $6.53, starting in May.

Officials say about 20% of what residential customers pay for a kilowatt-hour of electricity is the cost of fuel used to run the company’s power plants.

“While we have taken steps to minimize this year’s fuel cost adjustment so that customers see the smallest possible impact on their bills, we need to recover the costs of purchasing and transporting fuel to produce the electricity our customers depend on every day,” Dominion Media Relations manager Rhonda O’Banion said. “These fuel costs are a direct pass-through to customers, as Dominion Energy does not make a profit on this portion of the electricity rates.”

political cartoons

A hearing on fuel costs is scheduled for April 7. Dominion, in a statement, said a decision was expected in late April.

This story has been updated to correct story attribution to WLTX-TV instead of WIS-TV.

Copyright 2022 The Associated press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Previous

Digital Commerce Platform Market 2021

Next

IOSCO says DeFi is moving fast and 'cloning financial markets'

Check Also