Settlement agreement cuts proposed Dominion rate hike by 85% for small business

Settlement agreement cuts proposed Dominion rate hike by 85% for small business

Press Statement
July 2, 2021

Contact:
Frank Knapp
803-600-6874
fknapp@scsbc.org

Today a settlement agreement was filed with the S.C. Public Service Commission regarding Dominion Energy South Carolina’s (DESC) 2020 application to raise electric rates.  The agreement signed by DESC, SC Office of Regulatory Staff and 5 intervening parties was the result of nearly 6 months of negotiations.  The agreement, if approved by the Public Service Commission would reduce DESC’s request for $178 million in new revenue to a net increase of $35.6 million.  The increase on small businesses would be 1.08% compared to the original DESC request of 7.20%.

Frank Knapp Jr. intervened as an individual DESC customer in this rate hearing and signed onto the settlement agreement.  Mr. Knapp is the president and CEO of the South Carolina Small Business Chamber of Commerce.  Below is his statement on the settlement agreement.

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I have intervened in rate hearings for SCE&G in front of the Public Service Commission since 2002 to minimize rate hikes on residential customers and small businesses like mine.  This is the first general rate hearing for Dominion Energy.

This settlement agreement cuts the proposed rate increase for small businesses by 85%, from 7.2% to 1.08%.  Small businesses should be assured that they are getting the best outcome possible, the biggest reduction in a utility rate hike request that I have seen in the last 20 years.

The credit for this settlement agreement goes to the negotiation-leadership of the Office of Regulatory Staff and its collaboration with the other intervenors that provided quality input to represent their constituents.  My appreciation also goes to Dominion Energy for its decision to enter a multi-month negotiating process.