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SCC News

SCC Approves Settlement in Financial Review of Dominion Energy Virginia Rates; Customers to Receive Refunds Totaling $330 Million and Rate Reduction of $50 Million

NOV 18, 2021

RICHMOND – The State Corporation Commission (SCC) has approved a settlement in a triennial financial review of Dominion Energy Virginia’s base rates, terms and conditions for the provision of generation, distribution and transmission services. No case parties opposed the settlement.

Through its order, the Commission approved customer refunds totaling $330 million and the statutory maximum annual rate reduction of $50 million. For a residential customer using 1,000 kilowatt hours (kWh) per month, this rate reduction will result in a decrease of approximately 90 cents per month beginning within 60 days of the SCC final order.

In addition, a residential customer using 1,000 kWh per month will receive refunds totaling approximately $67 over the 2022-2023 period.

As part of the settlement, the Commission approved the term of the stipulation authorizing a rate of return on common equity (ROE) for Dominion of 9.35 percent. This ROE will be used for rate adjustment clauses and for Dominion’s next triennial review.

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Contact: Andy Farmer, 804-371-9141

Case Number PUR-2021-00058 – Dominion Energy Virginia for a 2021 triennial review of the rates, terms and conditions for provision of generation, distribution and transmission services

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As Holiday Season Approaches, No Time Like The Present to Review Insurance Coverage

NOV 15, 2021

RICHMOND – Dry pine needles, icy streets and sidewalks, busy kitchens and overworked outlets are just a few of the seasonal hazards that can result in injuries or damage to your home or property. Those events in turn can lead to expenses or losses that impact your financial well-being if you don’t have adequate insurance coverage.

In order to keep spirits bright, the State Corporation Commission’s (SCC) Bureau of Insurance reminds Virginians to check with their insurance agent or company to ensure they have the appropriate amount of insurance coverage in the event of an illness, theft or mishap.

“Make sure your insurance coverage is up-to-date so you can minimize any financial damage,” said Virginia Insurance Commissioner Scott A. White. “Take a close look at each of your insurance policies to ensure you know exactly what is – and is not – covered.”

Also check that your coverage includes seasonal activities that you may enjoy, such as skiing, snowboarding and snowmobiling.

Additionally, the COVID-19 pandemic creates several recent considerations for policyholders. Among other things, policyholders should consider the following:

  • Compliance requirements with local, state or national restrictions regarding the number of people who may gather at one time;
  • Minimizing the risk of transmission by taking appropriate steps, such as wearing masks, using hand soap and hand sanitizer frequently, and encouraging the sick to stay home, and
  • Understanding how your homeowner’s, renter’s, health and life insurance policies may specifically address COVID-19.

In addition to reviewing your policies, you may take other proactive steps before an accident. Among other things, you may want to keep your auto insurance company’s contact information and a copy of your insurance card with you when you drive, stay alert of local weather forecasts, and bring health insurance information – like identification cards and contact details for family members – with you while traveling.

Finally, the end of the year is a good time to update your home inventory for insurance purposes. Keeping an updated inventory will help ensure your homeowners or renters policy provides enough coverage for your belongings. It also can facilitate the recovery process if you experience loss or damage and must file an insurance claim.

Separate coverage may be needed for high-cost items such as jewelry, art or electronics. The National Association of Insurance Commissioners' free smartphone app — NAIC Home Inventory — makes creating a home inventory quick and easy. This app is available through the App Store and Google Play.

For information about a variety of insurance-related topics specifically for consumers, contact the Virginia Bureau of Insurance in Richmond at 804-371-9741 or toll-free at 1-877-310-6560 or visit its website at scc.virginia.gov/pages/Insurance. Additional information also may be found on the National Association of Insurance Commissioners’ website.

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Contact: Ford Carson, 804-371-9141

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