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Clean Energy Push Will Spark Bill Hikes for Dominion Customers

Clean Energy Push Will Spark Bill Hikes for Dominion Customers

Dominion Energy Inc. customers will pay more for their electricity bills as the U.S. utility shifts toward cleaner power sources.

“Over the course of the next 15 years, we’re talking about 2% a year average increase in electric bills, which we think is pretty manageable when you think about the benefits of moving to fewer emissions, less carbon,” Chief Executive Officer Bob Blue said during a Bloomberg Television interview that aired Thursday.

Clean Energy Push Will Spark Bill Hikes for Dominion Customers

The Richmond, Virginia-based utility could lean on multiple different new technologies including hydrogen, small nuclear reactors and carbon capture, as it moves away from fossil fuels, Blue said. Dominion is also building a huge wind farm off the coast of Virginia that will cost $10 billion and could power about 660,000 homes when it starts operation in 2026. Permitting for that offshore project is “on track,” the CEO said.

©2022 Bloomberg L.P.