Dominion Power asks point out regulators to raise the utility’s financial gain | Small business

Dominion Energy building

Dominion Power setting up, ideal, in Richmond.

RICHMOND — Touting its reputable assistance and protection record, Dominion Energy filed an software to point out regulators Wednesday inquiring for a significant raise in revenue. Critics right away protested.

The ask for is aspect of Dominion’s application for what’s regarded as a “triennial assessment.” The Virginia State Corporation Commission will commit the coming months analyzing Dominion’s books, accounting and claimed earnings from 2017 to 2020.

Dependent on the conclusions, the fee may possibly be ready to reset rates or order partial refunds if it finds Dominion gained extra than the revenue authorized by legislation in exchange for its monopoly.

The submitting “details Dominion Power Virginia’s achievement in supplying exceptional electric powered utility assistance for the duration of the 2017-2020 overview period,” Ed Baine, president of Dominion Energy Virginia, wrote to the commission. “Owing to the merged initiatives of almost 7,400 workers, the Business has fulfilled its tasks beneath Virginia’s regulated framework by providing harmless, responsible, and ever more environmentally accountable electrical power.

“This proceeding will demonstrate that prudent operational and money management has resulted in sizeable worth sent to the 2.6 million clients in the Commonwealth which the Firm is privileged to provide.”