Environmental Impact
Dominion Energy, Submission to State Corporation Commission, May 1, 2020
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ECONOMIC IMPACT OF VCEA
Testimony of Gregory L. Abbott, Associate Deputy Director of the State Corporation Commission, Sept.
The highlighted area reads:
A summary of [State Corporation Commission] Staff's primary findings and recommendations is presented below:
- Staff calculates that the Company's [Dominion] plan to comply with the VCEA will result in a typical monthly bill for a residential customer using 1,000 kilowatt hours to increase to $183.50 in 2030. This represents an increase of $67.32 or 58% compared to the typical monthly bill as of May 1, 2020 and an annual increase of $807.34.
- The Company's [Dominion] Plan D fully models the policy goals of VCEA including being 100% carbon free by 2045. Plan D has an net present value ("NPV") cost of $84.3 billion.
- Each of the Company's plans designed to comply with the VCEA overbuilds for purposes of (I) meeting peak load requirements, (II) meeting energy requirements, and (III) satisfying the annual regulatory Renewable Portfolilo Standards ("RPS") requirement.
- The Company's least-cost Plan A does not appear to have fully complied with prior Commission directives that the Company must not force the modeling, to select any resource or exclude reasonable resource for purposes of tits least-cost plan.