SCC News

RICHMOND – Each year, seniors lose billions of dollars as a result of financial exploitation perpetrated by friends, family, caregivers, financial professionals or strangers. The loss to individual victims of senior financial exploitation averages tens of thousands of dollars.

On World Elder Abuse Awareness Day (June 15), the State Corporation Commission encourages seniors, caregivers, financial professionals and all Virginians to be aware of the signs of elder financial abuse and to know how to report it.

Although financial abuse can take many forms, senior citizens (and those around them) should be aware of exploitation efforts involving the sale of investments, as well as attempts to access seniors’ investment accounts. Such efforts can include online or telemarketing scams selling fraudulent investments, or someone trying to gain control over a senior citizen’s investment accounts for their own personal gain. Among the seniors most vulnerable to such financial exploitation are those who have disabilities, rely on others for help or are socially isolated.

“Seniors are increasingly being targeted by scammers,” said Doug Joyce, director of the State Corporation Commission’s Division of Securities and Retail Franchising (Division). “Social isolation, a health crisis and increased reliance on the internet for many daily activities can make seniors increasingly vulnerable.”

In some cases, scammers may target their victims using personal details gleaned from obituaries and social media posts. Some may exploit established relationships within a senior’s social and support groups to become more involved in their life.

Possible red flags of senior financial abuse include the following:

• Surrendering passwords and control of finances to a new or overly protective friend or caregiver;
• Suspicious signatures on checks or other documents;
• Unusual activity in investment or bank accounts, including large, frequent or unexplained withdrawals or transfers between accounts;
• Unusual or sudden changes to beneficiary designations or to legal or financial documents involving investments, such as power of attorney, wills, trusts, retirement accounts or insurance policies, or documents which suddenly go missing;
• Unexplained financial activities, such as the disappearance or “gifting” of assets, valuables or securities;
• Fear of or sudden change in feelings toward friends or family members; and
• A lack of knowledge by a senior about their financial status or reluctance to discuss financial matters.

Joyce encourages Virginians who suspect they or a loved one are the victims of investment fraud or possible senior financial exploitation to contact the Division by telephone (in Richmond at 804-371-9051 or toll-free at 1-800-552-7945), or by email at SRF_General@scc.virginia.gov. Additional information is available on the Division’s website at scc.virginia.gov/pages/Consumer-Investments.

The North American Securities Administrators Association, of which the Division is a member, also has developed resources to help identify investment fraud and know how to report suspected elder financial abuse. These resources are available at www.nasaa.org/1723/senior-investor-resource-center or at serveourseniors.org/.

RICHMOND – The State Corporation Commission (SCC) is offering time for members of the public to provide comments regarding Virginia’s Commonwealth Health Reinsurance Program (CHRP).

Established for benefit year 2023 and beyond, CHRP’s purpose is to lower premium costs in the individual health insurance marketplace in Virginia. CHRP reimburses health insurance carriers for a portion of the claims of individuals with high annual medical costs and is supported mainly through federal “pass-through” funding. In order for Virginia to be eligible to receive federal pass-through funding, the state budget must include sufficient funding for CHRP.

The SCC is required by § 38.2-6602 of the Code of Virginia to establish and publish the payment parameters for the CHRP by May 1, 2023, for the 2024 benefit year. As part of this process, the SCC looks to the Virginia General Assembly regarding budgetary matters and the level of reinsurance it should seek each benefit year.

Due to uncertainty regarding the level of state funding that will be made available, and therefore, the amount of premium reduction the SCC should seek from health insurance carriers for benefit year 2024, a zero percent premium reduction from the CHRP for benefit year 2024 may be established, which would be considered a suspension of CHRP. In the event of a suspension, the conditions of the federal waiver that provides pass-through funding require the SCC to hold a 30-day public comment period prior to submitting a formal request to suspend CHRP.

Although the status of the reinsurance program for 2024 is not yet finalized, the SCC is beginning this 30-day public comment process to prepare for the possibility that the CHRP may be suspended.

Individuals wishing to comment on CHRP generally, or to otherwise comment regarding suspension of CHRP can send comments via email, no later than July 9, 2023, to reinsurance.waiver@scc.virginia.gov.

The SCC also will hold a public forum for comments on CHRP on June 20, 2023, from 10 a.m. to noon in Courtroom A of the SCC Building at 1300 East Main Street in downtown Richmond. The forum will be webcast. Anyone wishing to comment can attend in person or remotely. Those who plan to attend remotely should complete the Reinsurance Program Speaker Registration Form prior to June 16, 2023, to be contacted during the meeting to deliver comments.

For more information, visit the SCC Bureau of Insurance website at www.scc.virginia.gov/pages/Reinsurance-Program.

RICHMOND – With hurricane season just around the corner, the State Corporation Commission’s (SCC) Bureau of Insurance (Bureau) reminds Virginians that the time to plan is now. Planning includes reviewing your insurance policy and making sure you have the coverage you need if a hurricane or other disaster strikes.

The Atlantic hurricane season runs from June 1 through November 30 each year. Once a hurricane develops in the Atlantic, it may be difficult to find an insurance company willing to write hurricane-related coverage for your home, auto or business until after the storm threat passes.

“Protect yourself, not only physically, but financially,” said Virginia Insurance Commissioner Scott A. White. “Hurricanes can wreak havoc on your property. Review your insurance policies and know what is and is not covered. If you have questions, contact your insurance agency or company or the Bureau of Insurance.”

Even areas hundreds of miles from the coast can experience floods and other damage caused by hurricanes’ high winds and torrential rains. Most hurricane damage is caused by flooding, not high winds. Even minor floods can cause extensive damage to your home, vehicle, business or belongings.

The Bureau offers the following reminders as Virginians prepare for hurricane season:

• Homeowners, renters and commercial insurance policies issued in Virginia typically do not cover damages caused by floods, surface water or storm surges. The federal government sells insurance for direct flood and flood-related damage to homeowners, renters and businesses in eligible communities through the National Flood Insurance Program (NFIP). Keep in mind that there is typically a 30-day waiting period for a new flood insurance policy to take effect. To learn more about this program, contact your insurance agent or the NFIP at 1-800-427-4661 or visit floodsmart.gov.
  • Some private insurers also offer flood policies, so check with your insurance agent about the availability of a private flood insurance policy.
  • Flood coverage available through the NFIP may differ from private flood coverage, so it’s important to understand the differences. No matter which option you consider, ask whether your flood policy covers your personal property.
• Some homeowners policies require a special deductible for wind or hurricane losses. These deductibles may be applied separately from any other deductible on the homeowners policy. Deductibles may, for example, be written as a flat amount, such as $1,000, or may be applied to the loss as a percentage of the insurance coverage limit on the dwelling. Remember that the deductible is the amount that you must pay before the insurance company pays its portion of a claim.
• Don’t wait to prepare a home inventory of your personal property, which should include photographs, videos and serial numbers. Having a home inventory can facilitate the claims process if damage occurs. The National Association of Insurance Commissioners’ free home inventory app – available through the App Store and Google Play – can make creating a home inventory easy. Keep your insurance policies and home inventory together in a safe and secure place.
• Know what to do if your property is damaged by a hurricane. Contact your insurance agent or company as soon as possible. Make any necessary emergency repairs and take reasonable steps to prevent further damage to your property. Additionally, make a list of all damage to your property and include photographs, notes and repair-related receipts.
• If you must evacuate, know the name of your insurance company and take your homeowners, auto and other insurance policies and your home inventory with you, or make sure you can access these important documents electronically. The policies will contain your policy numbers and the phone numbers of your insurance companies in case you have questions or need to file a claim.

The Bureau of Insurance offers free consumer guides for homeowners and commercial property owners with information about what to do when a disaster strikes. These and many other consumer insurance guides are available at scc.virginia.gov/pages/Insurance. The Bureau’s specially trained staff can assist consumers with their insurance-related questions and concerns. To learn more, contact the Consumer Services Section of the Bureau’s Property and Casualty Division toll-free at 1-877-310-6560 or in Richmond at 804-371-9185.

For additional emergency preparedness information regarding hurricanes and other types of disasters and hazards, visit vaemergency.gov.

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Contact: Katha Treanor, 804-371-9141

RICHMOND – The State Corporation Commission (SCC) is offering time for members of the public to give oral comments by telephone on Dominion Energy Virginia’s 2023 Integrated Resource Plan (IRP). An IRP provides a forecast of an electric utility’s load obligations and a plan to meet those obligations by supply side and demand side resources over the next 15 years to promote reasonable prices, reliable service, energy independence, and environmental quality.

Dominion states in its filing that the IRP addresses the 2023 PJM Load Forecast, which includes a significant increase in the expected peak and energy demand in the Dominion Energy Zone.  According to the company, the increase is driven primarily by data centers and, to a lesser extent, electrification in both the company’s service territory and in other service areas within the Dominion Energy Zone

The SCC has scheduled a public witness session to begin at 10 a.m. on September 18, 2023. Public witnesses intending to provide oral testimony must pre-register with the SCC by 5 p.m. on September 12, 2023. The hearing will be webcast at: scc.virginia.gov/pages/Webcasting.

Public witnesses wishing to provide oral testimony may pre-register in one of three ways:

• Completing a public witness form for case number PUR-2023-00066 on the SCC’s website at: scc.virginia.gov/pages/Webcasting
• E-mailing the same form (PDF version on the same website as above) to SCCInfo@scc.virginia.gov
• Calling the SCC at 804-371-9141 during normal business hours (8:15 a.m. – 5 p.m.) and providing your name and the phone number you wish the Commission to call to reach you during the hearing
• To promote fairness for all public witnesses, each witness will be allotted five minutes to provide testimony.

A public evidentiary hearing will follow the public witness hearing at 10 a.m. on September 19, 2023, in the SCC’s second floor courtroom at 1300 East Main Street in Richmond to receive testimony and evidence from the company, any respondents and the SCC staff.

For those who prefer, there is also an opportunity to provide comments in writing on the Dominion application. Written comments may be submitted through the SCC’s website by September 12, 2023, at scc.virginia.gov/casecomments/Submit-Public-Comments. Simply go to the SCC website, select "Cases" and then "Submit Public Comments," and scroll down to case number PUR-2023-00066. Then click SUBMIT COMMENTS.
Comments can also be submitted by U.S. mail to the Clerk of the State Corporation Commission, c/o Document Control Center, P.O. Box 2118, Richmond, Virginia 23218-2118. All comments must refer to case number PUR-2023-00066.

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Contact: Andy Farmer, 804-371-9141

Case Number PUR-2023-00066 – Dominion Energy Virginia’s Integrated Resource Plan

Order for Notice and Hearing

RICHMOND – The State Corporation Commission (SCC) is offering time for members of the public to give oral comments by telephone on an application by Dominion Energy Virginia to revise its fuel rate effective July 1, 2023. The fuel rate is the portion of the electric bill that pays for the fuel used to generate electricity and costs associated with power purchased by the utility company to serve its customers.

Dominion proposes the implementation of only the current period factor rate of 2.8587 cents per kilowatt hour (¢/kWh) on an interim basis that would result in a 0.679 ¢/kWh decrease to the fuel factor rate. For a residential customer using 1,000 kWh per month, this represents a decrease of $6.79 per month beginning July 1, 2023.

The Company states that recent legislation has authorized the ability to finance certain deferred fuel costs through fuel cost bonds (Fuel Securitization). Dominion asserts that approval of Fuel Securitization could mitigate the near-term impact to customers by allowing the company to spread prior period under-recovered fuel costs of approximately $1.275 billion over several years. Fuel Securitization will be the subject of a future Commission proceeding.

The Commission found that as the hearing on this matter will occur subsequent to July 1, 2023 – the beginning of the company's rate year – Dominion’s current period factor rate of 2.8587 ¢/kWh shall be placed into effect on an interim basis for usage on and after July 1, 2023.

The SCC has scheduled a public witness session to begin at 10 a.m. on September 5, 2023. Public witnesses intending to provide oral testimony must pre-register with the SCC by 5 p.m. on August 29, 2023. The hearing will be webcast at: scc.virginia.gov/pages/Webcasting.

Public witnesses wishing to provide oral testimony may pre-register in one of three ways:

• Completing a public witness form for case number PUR-2023-00067 on the SCC’s website at: scc.virginia.gov/pages/Webcasting
• E-mailing the same form (PDF version on the same website as above) to SCCInfo@scc.virginia.gov
• Calling the SCC at 804-371-9141 during normal business hours (8:15 a.m. – 5 p.m.) and providing your name and the phone number you wish the Commission to call to reach you during the hearing
• To promote fairness for all public witnesses, each witness will be allotted five minutes to provide testimony.

A public evidentiary hearing will follow the public witness hearing at 10 a.m. on September 6, 2023, in the SCC’s second floor courtroom at 1300 East Main Street in Richmond to receive testimony and evidence from the company, any respondents and the SCC staff.

For those who prefer, there is also an opportunity to provide comments in writing on the Dominion application. Written comments may be submitted through the SCC’s website by August 29, 2023, at scc.virginia.gov/casecomments/Submit-Public-Comments. Simply go to the SCC website, select "Cases" and then "Submit Public Comments," and scroll down to case number PUR-2023-00067. Then click SUBMIT COMMENTS.

Comments can also be submitted by U.S. mail to the Clerk of the State Corporation Commission, c/o Document Control Center, P.O. Box 2118, Richmond, Virginia 23218-2118. All comments must refer to case number PUR-2023-00067.

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Contact: Andy Farmer, 804-371-9141

Case Number PUR-2023-00067
Order Establishing 2023-2024 Fuel Factor Proceeding

RICHMOND – The State Corporation Commission (SCC) is offering time for members of the public to give oral comments by telephone on an application by Appalachian Power Company for a triennial review of the company’s rates, terms and conditions for the provision of generation, distribution and transmission services.

The overall impact of the Appalachian Power proposals would increase the monthly bill of a residential customer using 1,000 kilowatt hours (kWh) of electricity per month by approximately $25.03, or 15.9 percent. For low-income customers qualifying for the proposed basic service charge waiver, the company’s proposals would increase the monthly bill of a residential customer using 1,000 kWh of electricity per month by approximately $16.53 or 10.5 percent.

The SCC has scheduled a public witness session to begin at 10 a.m. on August 23, 2023. Public witnesses intending to provide oral testimony must pre-register with the SCC by 5 p.m. on August 17, 2023. The hearing will be webcast at: scc.virginia.gov/pages/Webcasting.

Public witnesses wishing to provide oral testimony may pre-register in one of three ways:

• Completing a public witness form for case number PUR-2023-00002 on the SCC’s website at: scc.virginia.gov/pages/Webcasting, 
• E-mailing the same form (PDF version on the same website as above) to SCCInfo@scc.virginia.gov, or
• Calling the SCC at 804-371-9141 during normal business hours (8:15 a.m. - 5 p.m.) and providing your name and the phone number you wish the Commission to call to reach you during the hearing.
• To promote fairness for all public witnesses, each witness will be allotted five minutes to provide testimony.

A public evidentiary hearing will follow the public witness hearing at 9:30 a.m. on August 24, 2023, in the SCC’s second floor courtroom at 1300 East Main Street in Richmond to receive testimony and evidence from the company, any respondents and the SCC staff.

For those who prefer, there is also an opportunity to provide comments in writing on the Appalachian Power application. Written comments may be submitted through the SCC’s website by August 17, 2023, at scc.virginia.gov/casecomments/Submit-Public-Comments. Simply go to the SCC website, select "Cases" and then "Submit Public Comments," and scroll down to case number PUR-2023-00002. Then click SUBMIT COMMENTS.

Comments can also be submitted by U.S. mail to the Clerk of the State Corporation Commission, c/o Document Control Center, P.O. Box 2118, Richmond, Virginia 23218-2118. All comments must refer to case number PUR-2023-00002.

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Contact: Andy Farmer, 804-371-9141

Case Number PUR-2023-00002 – Application of Appalachian Power Company for a 2023 triennial review of base rates

View Scheduling Order

RICHMOND – The State Corporation Commission (SCC) approved the 2022 Renewable Energy Portfolio Standard (RPS) development plan for Dominion Energy Virginia for new solar, onshore wind, and energy storage resources. The company is required to submit an annual plan to the SCC to comply with the Virginia Clean Economy Act (VCEA).

For the limited purpose of filing its third annual RPS plan, the SCC found that Dominion’s plan is reasonable and prudent.

The SCC approved:

• Seven utility-scale solar generating facilities, totaling approximately 474 megawatts (MW) of capacity;
• A stand-alone energy storage resource, totaling approximately 15.7 MW;
• The costs for the above projects and related interconnection facilities;
• The costs of two distributed solar projects (including interconnection facilities), representing four distributed solar facilities totaling approximately 6 MW; and
• 13 Purchase Power Agreements for solar and energy storage resources, totaling approximately 270 MW of solar and 49 MW of storage.

The SCC also approved a revenue requirement of $89.154 million for the recovery of certain VCEA-related resources for the rate year of May 2023 through April 2024.

In its final order, the Commission stated, “… as discussed in prior RPS orders – [the SCC] is guided in these matters by the statutes and the record. The Commission has continued to exercise its delegated discretion in a manner that faithfully implements the VCEA’s carbon-reduction requirements, while best protecting consumers who expect and deserve reliable and affordable service.”

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Contact: Andy Farmer, 804-371-9141

Case Number PUR-2022-00124 – Application of Dominion Energy Virginia for approval of its 2022 RPS Plan

View Final Order

RICHMOND – April is National Safe Digging Month, and the State Corporation Commission’s Division of Utility and Railroad Safety (URS) reminds all Virginians to Know What’s Below and Dig with C.A.R.E. to help keep Virginia’s underground utility infrastructure damage free and our communities, business districts and environment safe.

The steps to safe digging in Virginia are:

• Contact Virginia 811 before you dig.
• Allow the required time for marking the utilities.
• Respect and protect the marks.
• Excavate carefully.

Whether you’re a professional contractor, do-it-yourselfer or homeowner, you have an important role in preventing damage to underground utilities. No matter how big or small your project is, contacting the Virginia 811 Notification Center to request the marking of your underground utility lines before you dig will help avoid physical injury, property damage, costly repairs and service interruptions.

Contact Virginia 811 by going online at www.va811.com. You may also call 811 or 1-800-552-7001 Monday through Friday, 7 a.m. to 5 p.m., excluding legal state and national holidays. Emergency notification service is available 24/7, 365 days a year.

For more information about safe digging and demolition, contact URS at 804- 371-9980 or visit the SCC Damage Prevention page at scc.virginia.gov/pages/Damage-Prevention.

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Contact: Jordan Bondurant, 804-371-9141

RICHMOND – The State Corporation Commission’s (SCC) Bureau of Insurance (Bureau) is seeking public comments regarding Virginia’s proposed essential health benefits (EHB) benchmark plan application for plan year 2025. The final application is due to the Centers for Medicare & Medicaid Services (CMS) by May 3, 2023.

Legislation passed by the 2023 Virginia General Assembly directs the Bureau to select a new EHB benchmark plan for plan year 2025. The EHB benchmark plan sets the required benefits that must be provided by comprehensive fully-insured individual and small group health insurance coverage issued in Virginia. Before Virginia adopts the new EHB benchmark plan, the Bureau must release the plan for public comment and then obtain approval of the plan from CMS.

In 2022, the General Assembly directed the Bureau to study and analyze the Commonwealth’s options for a new EHB benchmark plan for potential implementation in 2025 and to report its findings. The SCC utilized federal grant money to review Virginia’s EHB benchmark plan to present potential updates, including additional health benefit options. As part of this process, a consulting actuary for the Bureau also provided cost estimates of additional health benefits recently considered by Virginia’s Health Insurance Reform Commission and compared Virginia’s EHB benchmark plan to those of several other states.

Among the potential benefits studied for inclusion in Virginia’s 2025 EHB benchmark plan were medically necessary prosthetic devices and components as well as formula and enteral nutrition products as medicine. The recently-passed 2023 legislation directs the Bureau to add these benefits to the EHB benchmark plan in addition to the current benefits. Following public comment, the proposed 2025 EHB benchmark plan application must be approved by CMS in advance. A CMS determination on Virginia’s proposed 2025 EHB benchmark plan is expected by late summer 2023.

In addition to the legislation regarding the 2025 EHB benchmark plan, the 2023 General Assembly passed legislation that would establish a formalized process for future review and updates to Virginia’s EHB benchmark plan.

Public comments on Virginia’s proposed EHB benchmark plan application for plan year 2025 must be submitted to the Bureau of Insurance at: EHBComments@scc.virginia.gov by Wednesday, April 12. Those comments will be published on the Bureau’s website at Virginia SCC - Essential Health Benefits Benchmark Plan.

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Contact: Katha Treanor, 804-371-9141

RICHMOND – Strong winds, tornadoes, hailstorms, lightning, and flash floods – these are just some of the severe weather events that can accompany the arrival of spring.

Severe weather can strike anywhere and anytime. Advance planning is the key to protecting yourself, your loved ones and your property – both physically and financially.

The State Corporation Commission’s (SCC) Bureau of Insurance (Bureau) encourages Virginians to plan now for the possibility of extreme spring weather. “Assess your risk and make sure you have the insurance coverage you need if severe weather causes damage to your home, business, vehicles or other property,” said Virginia Insurance Commissioner Scott A. White.

The Bureau encourages Virginians to consider the following:

• Review your insurance policy and contact your insurance agent or company if you have any questions about your coverage.
• Create a detailed inventory of your belongings including photos and receipts of your property if you have them. The National Association of Insurance Commissioners (NAIC) provides a free home inventory app that can help you with this process. Additionally, you can use the NAIC’s Home Inventory Checklist as a guide. Store your home inventory checklist and insurance policy information in a secure, waterproof location.
• Most homeowners and renters insurance policies do not cover losses due to flooding. If you believe that you may need flood coverage, talk to your insurance agent about how to obtain flood insurance or visit the National Flood Insurance Program website at floodsmart.gov. Keep in mind that there is typically a 30-day waiting period before a flood insurance policy takes effect.

Automobile other-than-collision insurance coverage, often called "comprehensive" insurance coverage, helps pay to repair or replace vehicles if they are stolen or damaged by such things as fire, water, wind, hail, vandalism, glass breakage, falling objects or contact with an animal.

If your home, business, vehicles, or other property are damaged due to severe weather, the Bureau recommends that Virginians keep several steps in mind:

• Contact your insurance company or agent as soon as possible after the danger or risk has passed.
• Take photos of your damaged property once it is safe to do so.
• Save the receipts for the costs of any emergency repairs that are needed to prevent further damage to your property.
• If you feel you are treated unfairly, contact the Bureau of Insurance Property & Casualty Consumer Services team at 804-371-9185 or file a complaint.

The Bureau offers free consumer guides for homeowners and commercial property owners with information about what to do when a disaster strikes. These and many other consumer insurance guides are available on the Bureau’s website at scc.virginia.gov/pages/Insurance.

The Bureau’s specially trained staff can assist consumers with their insurance-related questions and concerns. To learn more, contact the Consumer Services Section of the Bureau’s Property and Casualty Division toll-free at 1-877-310-6560 or in Richmond at 804-371-9185.

For additional emergency preparedness information related to various types of disasters and hazards, visit the Virginia Department of Emergency Management website at vaemergency.gov.

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Contact: Katha Treanor, 804-371-9141