WCIV-TV
July 18, 2024
South Carolina residents could start paying more for electric bill amid Dominion proposal
by Charistin Clark
SOUTH CAROLINA (WCIV) — Dominion Energy customers across the Palmetto state may start paying more for their electric bill. Dominion Energy South Carolina has proposed a rate-hike to state officials.
In the original proposal, Dominion filed to increase revenue by $302 million. That would increase the average residential bill by a little under $19 per month.
“And they wanted about a 15% increase on small business rates, and they wanted to increase the average residential bill by about $18.86 a month,” Frank Knapp, President & CEO of SC Small Business Chamber of Commerce, said. “In addition, they wanted a rate of return, the profit they could make of 10.6%. That’s what they asked for.”
After negotiations, Dominion agreed to $219 million, reducing their increase in rates.
“Instead of that $18.86 average increase in a Dominion Energy bill, it will now be $15.13 increase. It’s still an increase, but not as much as they had asked,” said Knapp.
News 4 asked a Dominion spokesperson about what this money would go toward and they provided the following statement:
Since 2019, Dominion Energy South Carolina has invested $1.6 billion in our electric system to provide reliable, affordable and increasingly clean energy to power our customers every day. If approved by the Public Service Commission, the proposed settlement would allow Dominion Energy to recover some of the rising costs of investments already made to keep our plants running, systems reliable and grid secure while also listening to concerns of customers and other stakeholders.
These investments included those made in technology and infrastructure, including year-round enhancements to the electric transmission and distribution systems, which are necessary to meet the growing need for energy in South Carolina as well as increasingly strict safety, reliability and security standards.
They also provided the following investment examples:
Installation of more than 19,000 distribution transformers, nearly 1,600 miles of distribution lines as well as new or replacement transmission lines, switchyards and substations, including two solar substations.
Upgrades, improvements, and additional environmental controls for generation plants.
Technology, systems and equipment to better serve customers and enhance system security.
Storm response and restoration, vegetation management and environmental remediation.
Isabella Di Marco has lived in South Carolina for almost four years. Soon after she moved here, Dominion Energy raised rates– an increase of $1.81 a month for a typical residential customer. She says she didn’t feel the impact from that rate-hike, but over the years, she has noticed a change—her bills have gone up.
“I’ve seen growing everything from the rent to every bill that I have in my hands every day. And it’s becoming, as a single person, really heavy [to] cover all the expenses every month,” Di Marco said.
Knapp says it could take a couple weeks for the Public Service Commission to make a decision.
If the rate hike is approved, it would take effect Sept. 1, 2024. Dominion serves about 800,000 electric customers.